News / National
Zimbabwe, too broke to hold elections this year
27 Apr 2011 at 15:33hrs | Views
Zimbabwe does not have the $400 million needed to organise elections this year, Finance minister Tendai Biti has said.
Mr Biti said the coalition government also faces a $150 million deficit this year because it had missed all revenue targets with almost half the year gone.
The government has set a revenue target of $2.7 billion this year, but the economy has performed poorly due to the unstable political environment.
President Robert Mugabe says he wants an early election because he has failed to work with his rivals in a coalition government formed in 2009 following his disputed re-election a year earlier.
"The economy cannot sustain an election," Mr Biti told journalists in Harare. "The budget we have has remained static.
The Zimbabwe Electoral Commission has submitted a budget of $400 million. "Where do I get that kind of money when I am looking for $150 million to fund the budget deficit if the revenues remain as they are?"
The revelations by the minister came hard on the heels of an election road map produced by the three parties in the coalition last week, which effectively rules out elections this year.
Negotiators from President Mugabe's Zanu PF and the two Movement for Democratic Change (MDC) formations crafted the blueprint with the assistance of facilitators appointed by South African President Jacob Zuma.
The draft is now awaiting the approval of the Southern African Development Community (SADC) ' the guarantors of Zimbabwe's power sharing deal.
Some of the important issues contained in the roadmap are the constitution making process and electoral reforms, which must be completed before the polls are held.
Both processes are beyond schedule with the referendum on the new constitution expected towards the end of the year. Indications are now that a credible election may only be possible at the end of next year.
The coalition government has managed to halt the country's rapid economic decline, but President Mugabe's reluctance to fully implement the power-sharing deal is threatening to reverse all the gains.
Mr Biti said the coalition government also faces a $150 million deficit this year because it had missed all revenue targets with almost half the year gone.
The government has set a revenue target of $2.7 billion this year, but the economy has performed poorly due to the unstable political environment.
President Robert Mugabe says he wants an early election because he has failed to work with his rivals in a coalition government formed in 2009 following his disputed re-election a year earlier.
"The economy cannot sustain an election," Mr Biti told journalists in Harare. "The budget we have has remained static.
The Zimbabwe Electoral Commission has submitted a budget of $400 million. "Where do I get that kind of money when I am looking for $150 million to fund the budget deficit if the revenues remain as they are?"
Negotiators from President Mugabe's Zanu PF and the two Movement for Democratic Change (MDC) formations crafted the blueprint with the assistance of facilitators appointed by South African President Jacob Zuma.
The draft is now awaiting the approval of the Southern African Development Community (SADC) ' the guarantors of Zimbabwe's power sharing deal.
Some of the important issues contained in the roadmap are the constitution making process and electoral reforms, which must be completed before the polls are held.
Both processes are beyond schedule with the referendum on the new constitution expected towards the end of the year. Indications are now that a credible election may only be possible at the end of next year.
The coalition government has managed to halt the country's rapid economic decline, but President Mugabe's reluctance to fully implement the power-sharing deal is threatening to reverse all the gains.
Source - Byo24News
