Thursday, 15 November 2012

Zimbabwe's meagre $3.8 billion budget Zimbabwe boasts of...

Zimbabwe's meagre $3.8 billion budget

Zimbabwe boasts of educated people, diamonds and other minerals, fertile soils, good climate, beautiful scenery, etc.
All these point towards a prosperous nation of milk and honey.

However, the meagre budget presented by the finance minister today reflects a sad reality.
All sectors of the economy are underfunded.
Revenues remain low and government with an external debt $8bn is still looking for lines of credit.
The GDP may grow but the economic performance isn't impressive.

The diamond industry which was supposed to be the lifeline is dogged by corruption and lack of transparency.
It has lost relevance to the ordinary citizens as it has failed to change people's living standards as happened in Botswana.

The natural resources we have are being mismanaged.
Our governance system is pathetic that's why we are beggars in a country where we have so much.

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