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Zimbabwe Achieve First Budget Surplus in Many Years

Zimbabwe achieved a budget surplus of $29 million in October for the first time in many years.

This was revealed by the Finance and Economic Development Minister Mthuli Ncube.

While addressing journalist in the capital of Zimbabwe Harare, Ncube said that the achievement is the first indication that the country is on track to meet a narrower budget deficit of 5 percent of gross domestic product (GDP) in 2019 from an estimated 11,7 percent this year. (Herald)

“We have balanced the budget deficit in the month of September and in the month of October. In fact, in the month of October we have a primary surplus of $29 million.

“This is the first time this has happened in the longest while…so we are walking the talk when it comes to fiscal discipline and fiscal consolidation and balancing that budget,” he said.

Credit: Herald (Zim.)

 

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