Watch LIVE as Ideal Zimbabwe President, Tinashe Jonas, analysed the 2021 Budget presented by Finance Minister Mthuli Ncube on 26 November 2020.
Key Points In The Budget
Projections
1. GDP at 7.4 % in 2021 up from minus 4.1 in 2020.
2. Inflation will be down at 16% by December 2020
3. Import cover up to 2 times in 2021
4. Debt down to 65% in 2021 from 79 in 2020.
Strategy
1. Focus on price stability (Exchange rate stability, Financial sector stability and Money supply management).
Allocations
Budget allocations to Ministries, commissions and the President ‘s Office have increased by between 5 and 20 times.
Industry Incentives
Rebates and incentives were provided for the following industries.
1. Fertilizer Manufacturers
2. Diary Industry
3. Motor vehicle imports by Safari Operators
4. Shoe manufacturers
5. Cross border luxury coaches
6. REITS
Other key announcements
1. Imports of second hand cars now attract more duty (No longer under General Import Licence).
2. PAYE Tax free threshold increased TO $10 000
3. Bonus Tax Free threshold increased to ZWL25 000
What is missing?
1. Cash in ATMs
2. Employment creation
3. Compensation for farmers
Please watch the live video above this post for more details.
