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Chinamasa has work cut out for him

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Finance minister Patrick Chinamasa will today present the mid-term Fiscal Policy Review expected to give a diagnosis of the economy and map the way forward.

BY BUSINESS REPORTER

The mid-term review comes at a time the economy has been hit by a host of challenges such as company closures and a biting liquidity crunch.

It also comes on the back of the underperforming economy evidenced by reduced revenue collection by the Zimbabwe Revenue Authority (Zimra). Latest statistics showed that Zimra missed its target by 6% in the first half of the year collecting $1,66 billion instead of a target of $1,76 billion.

This has raised fears that this year’s $3,5 billion National Budget won’t be adequately funded and will force government to borrow from the constrained domestic market.

Chinamasa is also under pressure to introduce a cocktail of measures to stimulate growth and avert company closures and the laying-off of workers.

He is also expected to introduce measures to stem the rising influx of cheap products into the country thereby killing local industries.

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