2019 budget presentation set for next month

Prof. Mthuli Ncube

The Minister of Finance and Economic Development Professor Mthuli Ncube says he will present his maiden 2019 national budget end of next month with indications of several reforms aimed at restoring macro-economic stability.

Responding to concerns over the present economic challenges from the emerging business people at a Young Entrepreneurs Forum in the capital this Thursday, Professor Ncube said the government will soon be privatising some state-owned utilities, tighten expenditure as well as ensuring continued guarantee of the 1:1 trading rate for the United States dollar and the RTGS balances.

Avoiding raiding of the foreign exchange accounts for individuals, mobilising more foreign exchange and a single digit budget deficit target in the next three years are some of the treasury commitments.

The Minister says the 2019 national budget will further provide some clarity to key concerns being raised by stakeholders.

“We shall do our best to calm the market. I know there are several issues or concerns but people must not worry themselves it is a phase,” said Professor Ncube.

The Minister of Information, Publicity and Broadcasting Services Monica Mutsvangwa called on the young entrepreneurs to embrace reforms being implemented by the government to stabilise the economy.

“Let us all work together and see where we can go but I am really confident about our future in this country,” Mutsvangwa said.

Treasury is also encouraging promotion of venture funds or capital for infrastructure and ICT developments.