Mthuli Ncube magic, Zimbabwe achieved $29m budget surplus in October

Zimbabwe achieved a budget surplus of $29 million last month, the first time in many years, Finance and Economic Development Minister Mthuli Ncube has said.

Addressing journalists in the capital today, Minister Ncube said the achievement is the first indication that the country is on track to meet a narrower budget deficit of 5 percent of gross domestic product (GDP) in 2019 from an estimated 11,7 percent this year.

"We have balanced the budget deficit in the month of September and in the month of October. In fact in the month of October we have a primary surplus of $29 million.

"This is the first time this has happened in the longest while, so we are walking the talk when it comes to fiscal discipline and fiscal consolidation and balancing that budget," he said.

More to follow. . .