MDC-T applauds Minister Biti for unveiling a balanced 2012 budget

MDC-T says it  applauds and commends the Minister of Finance, Tendai Biti for presenting a people-orientated, pro-poor, pro-growth and broad-based US$4 billion 2012 National Budget.

MDC-T says the minister's announcement yesterday give hope to the country's workers, civil servants, farmers, the business and mining communities and the majority of the people in the villages who have always demanded and deserve real change.

"This budget will see among other things, an increase in the recapitalisation of the agriculture sector and tertiary students benefiting from loans and grants. It is also envisaged that inflation will remain below five percent," said the MDC-T statement.

Minister Biti had initially budgeted for US$3,4 billion for the 2012 budget, but adjusted this after factoring in US$600 million to be realised from the sales of diamonds following the certification by the Kimberley Process. Obert Mpofu of Zanu-PF if the minister responsible for the sale of diamonds.

This bold move will see the money being directed towards health, water and sanitation, infrastructure and energy sectors.

The minister further unveiled a US$20 million job fund to support the youths and retrenched workers and a US$60 million fund which will go towards the revival of ailing industries.

MDC-T says it applauds Minister Biti for allocating the biggest budget of US$707 million to education sector followed with the health sector which received US$345,6 million.

The money is expected to go towards the improvement of the education system and hospitals across the country.

Against the background of improved performance in sectors such as agriculture, mining, tourism, electricity and finance, Minister Biti is optimistic that the country's economy will grow by 9,4 percent.

The minister said investment can only be guaranteed if the political leaders and parties adhere to the letter and spirit of the Global Political Agreement (GPA) signed by the three principals of the major political parties in the country. The ongoing political uncertainty continues to negatively affect the country economic growth.

MDC-T says it remains worried that Zanu PF continues to exhibit sincerity deficits in resolving outstanding issues in the GPA.

"As a party, the MDC believes that investment growth in the country can only be guaranteed if all political parties and leaders adhere to the letter and spirit of the GPA signed in 2008.

There can be neither meaningful investment nor foreign direct investment in an economy where leaders do not respect agreements which they make.  Our financial predicament as a country is greatly linked to our man-made political crisis," said the statement.

Although the political leadership of Zanu PF has purported to speak against violence, they have failed to specifically urge the police to arrest the perpetrators of violence.

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