News / National
Zimbabwe has lost $60 billion to corruption since 1980
04 Nov 2016 at 07:27hrs | Views
Eddie Cross Bulawayo South MP (MDC-T) has claimed that Zimbabwe since independence lost over $60 billion due to corruption.
Cross said this in the National Assembly while contributing to debate on a motion in reply to the Presidential Speech where he said the amount translated to $1.7 billion lost every year due to corrupt activities.
The MDC-T local government secretary said in his extensive investigations of Marange, he found that $17 billion worth of diamonds were produced.
Meanwhile, Treasury exceeded its expenditure target for 2016 by $410 million between January and September this year due to pressure from debt servicing and unbudgeted for grain imports as a result of drought.
Finance and Economic Development Minister Patrick Chinamasa, yesterday said carry-overs of 2015 bonus payments into 2016 and payment of December 2015 salaries for the rest of the civil service in January 2016, resulted in a fault start financial year for the Government.
The El Nino-induced drought, which necessitated grain importation of 336 309 tonnes at a total cost of $134,5 million, has been a major impediment.
Chinamasa said the prevailing expenditure situation was undesirable as it exposed the country to a number of risks that include domestic debt trap and accumulation of arrears to salaries and service providers, among others.
Cross said this in the National Assembly while contributing to debate on a motion in reply to the Presidential Speech where he said the amount translated to $1.7 billion lost every year due to corrupt activities.
The MDC-T local government secretary said in his extensive investigations of Marange, he found that $17 billion worth of diamonds were produced.
Finance and Economic Development Minister Patrick Chinamasa, yesterday said carry-overs of 2015 bonus payments into 2016 and payment of December 2015 salaries for the rest of the civil service in January 2016, resulted in a fault start financial year for the Government.
The El Nino-induced drought, which necessitated grain importation of 336 309 tonnes at a total cost of $134,5 million, has been a major impediment.
Chinamasa said the prevailing expenditure situation was undesirable as it exposed the country to a number of risks that include domestic debt trap and accumulation of arrears to salaries and service providers, among others.
Source - newsday
