South Africa

Zimbabwe tables US$5bn budget, with focus on post-Covid tourism, mining, agriculture

Zimbabwe has hinged its budget on a good agricultural season, increased mining revenue and a stable currency.

The country's finance and economic development minister Prof Mthuli Ncube on Thursday presented his 2021 national budget, which he believes will work if these criteria are met.

He is also pinning hopes on a tourism recovery, which will depend on the Covid-19 pandemic not worsening.

As such, the 2021 budget has an “expenditure ceiling of ZW$421.6bn [US$5.08bn, or R77.33bn]", he said.

Development partners were expected to lend or give the country a total of US$841.5m (R12.81bn), of which $282.1m (R4.29bn) would come from multilateral partners.

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