Claims by Finance and Economic Development Minister, Mthuli Ncube, that the country has registered a budget surplus for the first time in many years has been ridiculed by the opposition MDC.
Ncube said that the government achieved half a million dollars in surplus for the half-year of 2019.
Former Minister of Finance, who is also the MDC vice president, Tendai Biti, poured cold water at Ncube’s assertions.
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Speaking at the launch of the MDC’s alternative economic policy titled RELOAD in Harare on Thursday, Biti said:
There are some who are celebrating a surplus in the context of a Zimbabwe Dollar when the 2018 budget was In Us Dollars, a surplus in the context of cash accounting when normal accounting is accrual accounting.
A surplus in the context of huge deficits in social expenditure… It’s so moronic and myopic to celebrate a surplus that is non-existent and that is expressed in money that has no value at all.
Biti demanded that the government reverse its decision to scrap the multi-currency system and use the US dollar as the legal tender rather the much-maligned Zimbabwe dollar.