HomeLocal NewsMDC-T happy with Mid-Term Fiscal Policy review

MDC-T happy with Mid-Term Fiscal Policy review

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MDC-T party has praised the Mid-Term Fiscal Policy review statement by Finance minister, Tendai Biti saying it would improve the lives of the ordinary people, create employment and promote economic growth.

The party said it commended Biti for drastically trimming down government expenditure, especially the procurement of luxury vehicles and overseas travel by senior government officials.

In a statement, the MDC-T party said the fiscal policy review was “pro-poor” and the projected 9,3% growth rate as well as the 4% inflation rate by year end, are achievable targets.

“We complement minister Biti’s move to allocate a $40 million revolving fund to protect local manufacturers and $20 million for the Small-to-Medium Enterprises support,” the MDC-T said. However, the MDC-T said it was concerned by the “continued lack of transparency” in the mining industry with diamond sales still displaying “highest level of unaccountability”.

“Leakages in diamond sales and a failure to account for the mined resource is a great cause for concern. It is very worrying that more than 700 000 diamond carats were exported since the beginning of the year but revenues declared do not tally with the exports,” said the former opposition party.

“Only $103, 9 million of an expected amount of more than $2 billion was realised by the government from the mineral resource.”

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