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LIVE: 2022 National Budget Presentation

Local News
Tourism and Environment - ZWL$3.7 billion to the Ministry of Environment, Climate, Tourism and Hospitality Industry, which should also cater for implementation of climate change mitigation measures.
Finance Minister Mthuli Ncube arrives for the 2022 National budget presentation at Parliament building in Harare
Growth projection for is estimated at 5.5% underpinned by high production in mining, agriculture and tourism Preliminary estimates show current account balance slightly narrowed, from a surplus of US$688.2 million in the first nine months of 2020, to a surplus of US$684.4 million for the same period in 2021
Year on Year inflation currently stands at below 100%, a marked decline from 1000% in 2020.
Human Health and Social work activities to contribute 2.4 % of local GDP together with Arts, Entertainment and recreation.At the very top we have Domestic Services contribute 3.5 %
Revenue collections during the first 9 months to Sept 2021 amounted to ZW$317.4 Bil against the projected ZW$291.5 Bil, giving a positive variance of ZW$25.8 Bil (8.9%), these are now expected to reach ZW$495.01 billion (16.6% of GDP) by December 31, 2021 Total public debt as at end Sept 2021 stands at US$13.7 billion, comprising of public external debt of US$13.2 billion, which now include blocked funds from RBZ, & domestic debt of US$532 million From January to September 2021, Zim received development assistance amounting to US$647.6 million, of which US$401.7 million was from bilateral partners and US$245.9 million from multilateral partners Expenditures in 2022 are projected at ZWL$927.3 billion (18.3% of GDP). Total recurrent spending will constitute 13.4% of GDP, while capital programmes will take up 5% of GDP. Employment costs will be contained at about 6.7% of GDP or 36.7% of revenues Agricultural sector – $124 billion Mining sector – $3 billion as gvt forges ahead with a $12 billion mining economy Industry and Commerce – $3.9 billion Tourism and Environment – ZWL$3.7 billion to the Ministry of Environment, Climate, Tourism and Hospitality Industry, which should also cater for implementation of climate change mitigation measures. Youth, Sport, Arts and Recreation – ZWL$7.8 billion which targets rehabilitation and upgrading of sporting facilities as well as youth entrepreneurship initiatives such as “youth in mining” and “youth in agriculture” 4.7 billion – Ministry of women affairs for interventions tailor made to empower their programmes Infrastructure development – $156.4 billion Transportation sector – $60.8 billion Ministry of Energy & Power Development – $3.9 billion Information & communications technology (ICT)development – $3.3 billion Ministry of Primary & Secondary Education – $124 billion Ministry of #Health & Child Care – 14.9 % of the National Budget, $117.7 billion Ministry of Information, Publicity & Broadcasting Services – $2.7 billion Agric sector – $124 billion Duty free importation of capital goods is proposed subject to specific requirements Proposed to extend duty suspension of milk powder imports Propose increase of excise duty of cigarettes & energy drinks for the purpose of establishing a fund to treat non-communicable diseases such as cancer, blood pressure & diabetes Propose tax free threshold adjustment from $10 000 to $30 000 effective 01 January 2022 Propose tax free bonus from $25 000 to $100 000 with effective 01 November 2021