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Zim has ZWL$9.8 billion budget surplus? In this COVID hit economy?!

Minister of finance Mthuli Ncube, budget surplus 2021 Q1, fake email US$500K entrepreneurs

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.

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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.

SI 127 is going to increase ZWL$ prices & encourage black market conversions

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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3 thoughts on “Zim has ZWL$9.8 billion budget surplus? In this COVID hit economy?!

  1. Has anyone ever asked them to define what surplus means, just to make sure we are all on the same page. 😂

  2. To claim a surplus is an insult to the Zimbabwean people.
    Not spending money when:
    75 percent of our population is food insecure
    90 percent of our population doesn’t have safe water
    Our maternal and neonatal death rates are amongst the highest in the world
    Our roads are a death trap
    We have no social services to speak of
    Most civil servants live under the poverty datum line
    And the list goes on and on:
    Is human rights abuse and should mean it is not a surplus.

  3. To draw 2000 zwl from a Std chartered bank ATM costs 300 zwl which equates to a cost of a 15% flat fee . Kindly look into this. Is that not an exorbitant charge

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