Broke Govt to issue Treasury Bills to raise 2016 bonuses

Speaking during a 2017 budget analysis tabled in the National Assembly, Finance Minister Patrick Chinamasa revealed that Government is issuing Treasury Bills (TBs) in a move to raise money to pay civil servants’ 2016 bonuses.

Said Chinamasa:


Introducing the Pindula News Mobil App
Download from Google Play Store

Government’s decision to pay the unbudgeted 2016 bonuses after pressure from employee unions is likely to worsen the situation as TBs worth $180 million are expected to be floated in the market to finance these bonus payments.

He said the move will worsen government’s debt situation. Chinamasa said the country was estimated to have about $2,1 billion worth of TBs in the market as at February 28, 2017, issued to bridge the government’s funding gap.

More: Daily News

Patrick Chinamasa

Patrick Anthony Chinamasa is a Zimbabwean politician and a member of Zanu-PF. He is the former Minister of Finance and Economic Planning. He was reappointed to the ministry after President Emmerson Mnangagwa had appointed his cabinet in November 2017. Chinamasa is former Minister of Cyber... Read More About Patrick Chinamasa

Join WhatsApp & Telegram News Groups:

WhatsApp Group: https://chat.whatsapp.com/D4vbg5RLhkbFfVyMdu8rLi


Telegram Group: https://t.me/pindula

Back to top

Write a Comment

Your email address will not be published.


Share Full Post

Nyaradzo logo

RSS Recent Profiles Created

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.