Zimbabwe finance minister to deliver anticipated budget speech
Many will be watching Patrick Chinamasa, to see whether his budget statement will signal policy changes to make Zim more investor-friendly under President Emmerson Mnangagwa's government.
HARARE - Zimbabwe’s finance minister is expected to deliver a highly anticipated budget speech on Thursday afternoon.
Many will be watching minister, Patrick Chinamasa, to see whether his budget statement will signal policy changes to make the country more investor-friendly under President Emmerson Mnangagwa’s new government.
Chinamasa says Zimbabwe is back in business.
According to the Source news agency, Chinamasa told reporters that Thursday’s budget statement will show the world that Zimbabwe is serious about shaping its economy.
The country owes massive debts, and there are chronic cash shortages and rising prices.
Observers say that for the minister to lure back investors, he'll need to send a strong signal that the new government can cut spending, create jobs and pursue economic reforms.
These could include repealing or making significant changes to the indigenisation law, which requires foreign investors to part with majority shares.