WASHINGTON DC —
The delay by the Ministry of Finance to present next year’s national budget has further added anxiety to a country on an economic knife edge, economists have warned.
Finance Minister, Mister Patrick Chinamasa, is quoted by The Herald
as having said he needs more time to consult before presenting the budget, which is traditionally done in November every year.
Mr. Chinamasa told a pre-budget consultative seminar in Victoria Falls that he needed more time to consult and that he could be ready either next month or even January next year.
“We don’t have a budget statement in November. I need more time, possibly in December, but we will meet the constitutional requirement of doing it by January 2014,” said Mr. Chinamasa.
Some companies are reported to have slashed their working week by a couple of days as they wait for the presentation of the budget. On the other hand, workers will have to wait a little bit longer to know their tax-free bonus threshold while the budget is being hammered out.
Political commentator, Charles Mangongera, who is also the director of Policy and Research in the Movement for Democratic Changed formation led by Morgan Tsvangirai, said the delay in presenting the budget shows the failure of sustainable economic policies by the Zanu-PF government.