BUDGET 2020 UPDATE

The Sunday Mail

Lincoln Towindo
All is set for the presentation of the National Budget statement by Minister of Finance and Economic Development, Professor Mthuli Ncube Thursday afternoon.
Minister Ncube will unveil his second Budget statement in which he is expected to announce far-reaching interventions to ease austerity which he imposed last year.

Vice President Kembo Mohadi arriving at Parliament for Budget 2020 presentation

A small crowd was slowly building up inside Africa Unity Square, adjacent to Parliament Building, where the statement will be delivered.
However, rain-heavy clouds above central Harare are threatening to dampen the crowd’s mood with a high likelihood of rains.
Scores of police are milling around the square and are maintaining peace and order during the proceedings.
President Mnangagwa is expected to attend the presentation.

President Emmerson Mnangagwa arrives at Parliament for Budget 2020

Minister Mthuli says the Budget is a “People’s Budget”, whose theme is, “Gearing for Higher Productivity, Growth and Job Creation”.

He says austerity was not a retribution, but national finances were in shambles and required re-balancing. The implementation of key infrastructure projects such as Hwange 7 and 8, RGM International Airport are on course, he added.

Cyclone Idai left about 275 000 in need of assistance.

Prof Ncube says conomic growth of up to 3 percent is expected in 2020 and that the 2020 Budget marks exit from austerity to prosperity.