The Speaker in the house of Parliament, Jacob Mudenda has highlighted that Indegenous people, financing and solutions are key to the potential successful implementation of budgeting that fosters Zimbabwe’s economic development at the ongoing Pre Budget seminar in Harare today.
Mudenda emphasised that the input that local citizens contributed during the enquiries should be central in determining the budget structure.
“This seminar should, therefore, meticulously ventilate the public input against the ecosystem of our national economic imperatives and the shacky global economy.” Speaker of Parliament, Jacob Mudenda said during the seminar’s opening session.
Robust budgetary strategies were argued to be central to the quest to rebuild Zimbabwe to guarantee better living conditions for Zimbabwean’s.
“Accelerating economic transformation thus entails that we have to speed up the process of re-building our economy so that the people of Zimbabwe can experience a rapid change in their lives and well-being by vigorously tapping into our domestic resource mobilisation riding on the radar of the dignity of hard work as a national virtue as defined in the Preamble of our Constitution.” Mudenda also said.
Mudenda called for truthful evaluation of economic expedience for a equally accurate analysis of budgetary needs and the potential success of the country’s operational long term blueprint, as guided by the government’s Vision 2030 Movement.
“The truth will free us from the bliss of self-deprecation as we embark on crafting a sound 2023 Budget. The barometer for the search of that truth is the extent at which we are on course in creating an upper middle income economy in the context of vision 2030.” The Speaker further highlighted.
Mudenda emphasised that all Zimbabwean’s should be part of the broader processes as called for by the country’s President for a Zimbabwe by Zimbabwean’s through availing domestic resources for development.
“This will augur well with the Presidential mantra that “Nyika Inovakwa Nevene Vayo/ Ilizwe Lakhiwa Ngabanikazi Balo.” Accordingly, all Zimbabweans must put their shoulders to the deck unflinchingly in both the public and private sectors.”
Furthermore, “Accordingly, what is critical for us is to strategise on how the qualitative and quantitative economic transformation can be achieved through leveraging on domestic resource mobilisation. Mudenda emphasised.
The Minister of Finance and Economic Development, Mthuli Ncube highlighted that, ““The current account balance widened to a surplus of US$340.5 million in the first half of 2022, compared to a deficit of US$97.2 million for the same period in 2021 driven by strong secondary income inflows coupled with merchandise exports growing at a faster pace compared to imports. Merchandise exports increased by 32.5% to US$3 509.6 million in the first half of 2022 compared to US$2 649.7 million in the corresponding period in 2021.”
Zimbabwe is currently in the process of considering public needs for the 2024 Budget for consideration as the country grapples from hyper inflation, price instability, effects from the global COVID 19 and Ukraine-Russia war among other challenges.