December 20, 2013 4:57 PM

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in Business, News / on December 20, 2013 at 4:49 pm /

The main opposition MDC-T party on Friday hammered the 2014 national budget presented by Finance Minister Patrick Chinamasa arguing it will have a negative impact on the ordinary person “as it does not have measures in place to fund critical sectors that will improve the economy and the people’s livelihoods.”

In a statement issued a day after Chinamasa’s presentation in Parliament, the MDC-T said the “US$4, 1 billion budget is a wish list full of assumptions that will not result in meaningful revenue being collected by the government and it does not have measures in place to attract Foreign Direct Investment.”

The party said the budget is not pro-poor and ordinary people will be the most affected by increases on import duty placed on various basic consumables such as milk and milk products. The MDC-T accused Chinamasa of not supporting local production to create employment and ensure affordable prices.

“Of great concern is the fact that the budget celebrates the death of the formal economy when in reality the informal and formal economies are intertwined. The disappearance of the formal economy goes with the disappearance of the informal economy,” the MDC-T said.

“It is imperative that Chinamasa’s budget should have included measures on how best to grow both the informal and formal sectors. It is also not proper for Chinamasa to put in place measures that cushion only small scale miners at the expense of other informal sectors,” the statement read.

The main opposition party also feels the measures that have been put in place on diamonds are not strong enough to ensure that remittances from the mineral find their way into government coffers. Zanu PF controlled syndicates have long been accused of looting mineral resources for prejudicing the state of millions.


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