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.
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.
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Tendai Laxton Biti is a politician and currently one of the 3 Vice Presidents of the Movement for Democratic Change (MDC). He was elected the vice presidency in May 2019 at the MDC Congress. Biti is also one of Zimbabwe's most prominent lawyers. Biti is... Read More About Tendai Biti