Browsing: Budget deficit

Treasury is expected to continue its trajectory f fiscal consolidation and discipline together with increasing incentives to grow investments in value chain sectors and stability in power supply.
On the taxation front the budget was expected to provide relief to the poor who make up at least 49.9 per cent of the population of the country. This is particularly significant because it has been said on several occasions that Zimbabwean people are among the most taxed in southern Africa.
This is partly the legacy of the minister of finance’s austerity for prosperity policy which resulted in a largely resented 2 per cent transfer tax on all transactions. There have been calls for this tax to be repealed and the tax-free threshold to be increased.