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LIVE: Mthuli Ncube 2019 National budget presentation

by Staff reporter
22 Nov 2018 at 15:03hrs | Views
Finance and Economic Development Minister Professor Mthuli Ncube will be presenting the 2019 National Budget this afternoon at Parliament Building in Harare.
We bring you live updates from parliament.
  • 22 Nov 2018 at 16:13hrs

    1729: "In conclusion, this budget will lead us to prosperity…"" said the Finance Minister. Quoting Immanuel Kant, he said: "We are not rich by what we possess, but by what we can do without."

  • 22 Nov 2018 at 16:12hrs

  • 22 Nov 2018 at 15:38hrs

    1728: Govt committed to clearing all debts with ABD, World Bank and other financiers. Re-engagement with international financial institutions will be key in economic development

  • 22 Nov 2018 at 15:38hrs

    1712: Suspended duty on items used by the disabled….body creams, hearing aids, braille computers, wheel chairs, among others

  • 22 Nov 2018 at 15:38hrs

    1711: Prof Ncube proposed to suspended customs duty on sanitary ware for 12 months with effect from 1 December 2018. Imports of sanitary ware have also been suspended from paying VAT

  • 22 Nov 2018 at 15:38hrs

    1707: Turning to tax relief measures - Tax free threshold reviewed from $300 to $350

  • 22 Nov 2018 at 15:37hrs

    1705: Increased excise duty on fuel - 7cents per litre for diesel & paraffin and 6.5 cents on petrol with effect from 1 December 2018

  • 22 Nov 2018 at 15:36hrs

    1702: Imported vehicles will be levied duty in foreign currency in accepted currency with effect from 23 November 2018

  • 22 Nov 2018 at 15:36hrs

    1701: Turning to revenue enhancing measures - Excise duty on cigarettes reviewed to 25 dollars per 100 sticks with effect from 1 December 2018

  • 22 Nov 2018 at 15:35hrs

  • 22 Nov 2018 at 15:34hrs

    1654: 100 public passenger buses (60 seater) to be imported next year – ring-fenced suspension of duty

  • 22 Nov 2018 at 15:33hrs

    1650: All MPs to access loans for vehicle financing

  • 22 Nov 2018 at 15:33hrs

  • 22 Nov 2018 at 15:32hrs

    Industry and Commerce allocated $46 million.

  • 22 Nov 2018 at 15:32hrs

    1637: $15.4 million to Mines and Mining Development ministry

  • 22 Nov 2018 at 15:31hrs

    1636: Govt to embark exploration of minerals as precious stones in Zimbabwe have not been fully exploited, beneficiation, govt to deal with mining claims that are held for speculative purposes. Govt to resuscitate closed mines

  • 22 Nov 2018 at 15:31hrs

    1632: $81.2 million for Public Service ministry

  • 22 Nov 2018 at 15:30hrs

    1628: $694.5 million for Health and Child Care

  • 22 Nov 2018 at 15:30hrs

    1627: $1.132 billion for Primary and Secondary Education; $380.8 million for higher and tertiary education

  • 22 Nov 2018 at 15:30hrs

    1626: 2019 Budget $179.9 million for Local Govt ministry, over and above the over $300 million for devolution

  • 22 Nov 2018 at 15:29hrs

    1621: 2019 budget seeks to operationalise devolution through supporting provincial councils in 2019 - bill already approved for this

  • 22 Nov 2018 at 15:29hrs

    1620: $399 million for transport ministry; $17.9 for ICT ministry

  • 22 Nov 2018 at 15:28hrs

    1616: Agriculture measures - roll out of the revised 99 year lease to facilitate private sector financing to farmers, addressing land utilisation, finalizing the setting up of commodity exchange, robust land recovery system

  • 22 Nov 2018 at 15:28hrs

    1611: Public enterprise reforms - parastatals reforms, long awaited, will now be implemented through;

    Partial privatisation
    Full privatisation
    Liquidation

  • 22 Nov 2018 at 15:27hrs

    1609: $53.5 million for Youth, Sports, Arts and Recreation Ministry

  • 22 Nov 2018 at 15:27hrs

    1608: $381 million for Women's ministry

  • 22 Nov 2018 at 15:26hrs

    1606: Retooling fund to be established

  • 22 Nov 2018 at 15:26hrs

    1604: Tax for jobs - govt targeting a tax regime which encourages job creation

  • 22 Nov 2018 at 15:25hrs

    1603: Investment for jobs and inclusive growth a priority

  • 22 Nov 2018 at 15:25hrs

    1600: Multi-currency system remains in place

  • 22 Nov 2018 at 15:24hrs

    1554: To manage govt vehicle feet, the minister proposes that after work each vehicle must be parked at the nearest govt institution such as police station over night

  • 22 Nov 2018 at 15:23hrs

    1553: Ghost workers issue - to weed them out he proposes a biometric registration for civil servants with effect from 1 January 2019 - to properly account for every worker paid by govt

  • 22 Nov 2018 at 15:23hrs

    1547: Bonus payment - 13th cheque to be honoured before year end….this excludes transport and housing allowances

  • 22 Nov 2018 at 15:22hrs

    1545: 5 percent salary cuts effective 1 January 2019 for all senior positions from principal directors up to deputy ministers and ministers, including executive directors in state institutions

  • 22 Nov 2018 at 15:22hrs

    1543: Overdraft with RBZ - all central bank quasi-fiscal activities are being discontinued as they were an unnecessary burden on the fiscus

  • 22 Nov 2018 at 15:22hrs

    1540: Govt targets to reduce budget deficit to single digit level

  • 22 Nov 2018 at 15:21hrs

    1536: 2019 budget drivers - objective is to stabilise the economy in the shortest possible time - the drivers include microeconomic stabilisation, infrastructure development, privatization of parastatals

  • 22 Nov 2018 at 15:21hrs

    1534: Growth rate for 2019 has been put at 3.1 percent

  • 22 Nov 2018 at 15:20hrs

    1531: Fiscal imbalances cause an upsurge in inflation. Zimstat says year on year inflation has reached 15.46 percentages points. He says monthly inflation will fall from now on-wards following govt interventions including the suspension of SI 122

  • 22 Nov 2018 at 15:20hrs

    1529: Our overdraft window stands at $1.1 billion…….to close year at $2.5 billion which is well above the stipulated percentage

  • 22 Nov 2018 at 15:19hrs

    1524: Speaks of a marked improvement in employment levels. Also $15 billion worth of investment deals are being negotiated…..the economy is now 40 percent bigger…..Zimbabwe is now a lower middle income economy

  • 22 Nov 2018 at 15:19hrs

    1522: Austerity for prosperity is the key message for 2019 budget statement

  • 22 Nov 2018 at 15:19hrs

    1521: Measures on reducing expenditures to be implemented…to build a prosperous economy in line with Vision 2030

  • 22 Nov 2018 at 15:18hrs

    1520: Primary objective of the 2019 budget is to stabilise the economy.

  • 22 Nov 2018 at 15:18hrs

    1518: Speaks of creating a private-sector led economy

  • 22 Nov 2018 at 15:17hrs

    1517: Speaks of international re-engagement, clearing of debts, promotion of good governance, fighting corruption, turning Zimbabwe into an attractive investment destination - these issues are the core of a progressive economy

  • 22 Nov 2018 at 15:17hrs

    1514: Professor Mthuli Ncube now presenting the budget statement. Starts by mentioning the TSP, which he says will bring about stabilization of the economy in the next 2 years

  • 22 Nov 2018 at 15:15hrs

    1512: The Speaker of Parliament says President Mnangagwa is the President of Zimbabwe and no one should be allowed to undermine that, including honourable members, adding that appropriate action will be taken.

  • 22 Nov 2018 at 15:13hrs

    1457: Commotion in the house…..ZRP has been called in to assist to eject the MDC members of parliament. The MPs are refusing to leave the house.

  • 22 Nov 2018 at 15:05hrs

    1448: After some heckling in the house, Speaker of the National Assembly orders MPs to his left (MDC MPs) to leave the house for refusing to stand-up in acknowledgement as President Mnangagwa walked into the house.

  • 22 Nov 2018 at 15:05hrs

    1440: Speaker suspends business of the day to pave way for budget presentation at 1445 hours.

  • 22 Nov 2018 at 15:04hrs

    1435: A female legislator Honourable Lynette Karenyi complaints of sexual harassment of female members of parliament by their male counterparts.

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