Earlier this week, Minister for Finance Mthuli Ncube said that Zimbabwe had a budget surplus of ZWL$9.8 billion in Q1 of 2021. A budget surplus is essentially the government making more money from income like taxes and the likes than it is spending.
Now there are many ways to interpret this especially with COVID-19 being an inescapable reality both on its impact on business and how it should influence government spending.
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Link to ZIMRA’s Q1 2021 report is in the link here
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One week after SI 127 and well there are no prizes for anyone. Because experts, pundits and even armchair economists were all right about the effects of the statutory instrument.
SI 127 has been the talk of the town and for good reason. The Statutory Instrument is going to increase prices in ZWL$ particularly because everyone will be juxtaposing the “official rate” with the parallel market rate.
ZIMRA recently gave a grace period for the importation of cars that are 10 years or older. Now, this comes after the ban the govt instituted in April 2021 which leads us to believe it’s all about the revenue dip ZIMRA was experiencing on its end.
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