Inflation hobbles Mthuli’s Budget

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THE country’s mounting economic woes mean that the minister of Finance, Mthuli Ncube, will be compelled to come up with a significant supplementary budget soon, experts say.
Speaking to The Financial Gazette this week, the experts were also doubtful that the under pressure Treasury boss would be able to stabilise Zimbabwe’s bleeding economy in the short to medium term.
At the same time, the experts also warned against “ill-advised and reactionary fiscal measures” to deal with the country’s escalating economic crisis, which they said would cause more harm than good.
Ncube’s total 2023 budget amounted to $4,5 trillion, with government ministries and independent commissions being allocated $3,7 trillion of that money.