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Mzembi hits out at misguided budget

TOURISM minister Walter Mzembi has said Zimbabwe’s fiscal framework is misconceived warning that unless this is addressed, the country would not address its economic challenges.

Newzimbabwe.com

Walter Mzembi

Walter Mzembi

Mzembi, who is contesting elections for secretary-general of the United Nations World Tourism Organisation, was speaking at a marketing indaba held in London this past weekend.

The minister said using every tax dollar collected on recurrent expenditure was not viable.

Zimbabwe’s national budget has remained at around $4 billion with more than 90% of revenues going to wages for the civil service.

The country has struggled with an economic crisis for years, which has crippled industry leaving formal unemployment at around 80%, a development that has adversely impacted government’s tax revenues.

Source :

newsday

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