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Mthuli's budget a drop in the ocean

15 Nov 2019 at 08:13hrs | Views
The 2020 budget is out but the future of the country still looks all gloom and not inspiring at all.

The budget lacks clarity and is full of deception, lies and falsehoods. After austerity measures it looks like we have again pressed a default button and re-engaged into another gear of brand new austerity measures leaving the general public exposed to abjet poverty.

That is the problem emanating from an illegitimate government where junta takes control of everything. The Minister of Finance Mthuli Ncube presentation of the budget was like trying to draw water from a hard rock. Put simply you can rig an election but not the economy.

The signs and symptoms of a stolen elections are now manifesting. The budget was such a massive contradictory of what is currently happening on the ground. There is a lot of confusion in the financial sector and hence this economic morass. A lot of false pretences and shortcuts to the budget have been noticed. A cocktail of lies that Zimbabwe has improved in doing business with cannot go unchallenged. There is no business to talk about. ยท The macro -economic framework is unsound and continue to lack credibility and cannot stand the heat of the harsh economic vagrants currently prevailing in the country. Fixing currency issues requires unity amongst the Zimbabweans. As long as there is still antagonism and lack of trust amongst the people nothing will move.

Power shortages in the country, the scourge of corruption, productivity constraints and the pending drought will make it difficult for the country to find its way forward in 2020.

Zimbabwe is currently balancing firmly in a recession and decisive measures need to be put into place before we sink into deep economic quagmire.

You don't talk of subsiding the price of cheese in a country which is struggling to provide clean water, drugs and electric power. How many people can afford to eat cheese in Zimbabwe?

Mthuli Ncube's budget is like a farmer who is busy applying some fertilizers to a water logged field and expecting a bumper harvest from that field.

Power shortages continue to derail the production and is a fundamental issue which needs a quick solution in the country. The scourge of corruption, productivity constraints and the pending drought will also make it difficult for the country to move forward in 2020.

Zimbabwe currently balancing firmly in a recession and decisive measures need to be put into place.

In his statement of the budget Mthuli Ncube said that the monetary policy has been restored but this is the opposite of what is on the ground. There are still price distortions in the market and since the new currency /bond notes were introduced a day after the currency has flooded the black market.

No milestone were recorded on advancing the ease of doing business in Zimbabwe a's most investors still shun the current set up. There is no industry to talk about which is producing at a full scale because of power shortages which drives he economy. The economy is still operating under uncertainity feja feja type of business.

There are no serious economic strategies put in place or elaborated to stimulate the high unemployment rate in the country and productivity. The injection of the new currency has not eroded long winding banking queues neither has it solved the burden of cash crisis.

On media information and publicity, I expected Mthuli Ncube to put more money on the expansion of the broadcasting cluster. However the budget concentrated on Zimbabwe Broadcasting Co-operation a government controlled institution thus the regime maintained the grip on power.

On corruption, which has caused economic decay , malaise and wastage of public resources, it is so disheartening that the Minister knows how this rotten act has killed the fabric moral of the economy but he did not explain how the government was going to tackle this problem. Based on the Auditor's General Report the government of Zimbabwe has lost resources through corrupt activities and no action is being taken about it.

This is a hallmark of leadership failure where the leaders tend to ignore where the problems are emanating from but don't have the drive to stop the rot.

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Source - Leonard Koni
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