The Official Website of the Ministry of Finance and Economic Development of Zimbabwe. T HE 2021 National Budget must provide a clear government position on the Extractive Industries Transparency Initiative (EITI), including steps that the government will undertake to implement EITI or its local version, the Zimbabwe Environmental Law Association (Zela) has said.. The 2021 Budget targets a fiscal deficit of -1.3% of GDP in line with the National Development Strategy 1. THE 2021 NATIONAL BUDGET SPEECH “Building Resillience and Sustainable Economic Recovery” Presented to the Parliament of Zimbabwe. Below are the key highlights under Personal Income Tax: Effective 1 November 2020. The tax-free bonus has increased from ZWL5 000 to ZWL25 000. Hon. The projected expenditure for 2021 is ZWL$421,6 billion and employment costs are expected to take up ZW$142 billion. We are open for Business from 8:00hrs to 16:30hrs, every Monday to Friday except Public Holidays. ZIMBABWE - Zimbabwe's finance minister on Friday said the country’s economy, battered by drought and the COVID-19 pandemic this year, would recover in 2021. Zimbabwe's 2021 budget forecasts unrealistic. Hansard Department; Committees Department; Financial Services Directorate Instead the government piled more taxes on its already over-taxed citizens. Finance minister Mthuli Ncube presented the 2021 National Budget to parliament on November 26. Zimbabwe 2020 National Budget . “Key allocations under the 2021 Budget are goods and services ($59,4 billion), employment costs ($142,6 billion), interest ($1,5 billion) and transfers ($86,5 billion), with the balance reserved for capital development programmes,” said the Finance Minister. A section of the budget which was contested was the one that dealt with the proposed construction of two public toilets in ward three using devolution money at a cost of $8 million, which translates to US$98 000 using the current auction rate. By. According to Mthuli, Zimbabwe has spent around US$1.3 billion importing buses and used cars over the past five years. The National Budget comes at a time when the country has achieved some measure of stability on the foreign exchange markets as well as on the inflationary front, thereby providing an important basis for growing the economy. This will be attained through: ... Parliament of Zimbabwe 1,869 7,186 9,075 10,392 Public Service, Labour and Social Welfare 2,371 6,929 8,624 11,684 The Finance minister of Zimbabwe announced the 2021 Budget. Industrialists welcome Mthuli Ncube’s 2021 Budget. Please click here for the 2021 National Budget Statement. “The revival of Ziscosteel is key to the economy through its potential benefits in job creation and value chain impact in companies such National Railways of Zimbabwe and Hwange Colliery and the resultant “The 2021 National Budget will prioritise preserving the stability of the Zimbabwean dollar and arresting inflation to allow citizens room to save, invest and plan,” Ncube said. Download File: 2021 National Budget Speech.pdf. Prof. Mthuli Ncube Minister of Finance and Economic Development ZIMBABWE 1 Embargoed Till End of Delivery THE 2020 NATIONAL BUDGET STATEMENT ‘Gearing for Higher Productivity, Growth and Job Creation’ Presented to the Parliament of Zimbabwe On November 14, 2019 By The Hon. Budget Speech in National Assembly – Thursday 26th November The Minister of Finance and Economic Development will present the 2021 National Budget Statement and the 2021 Estimates of Expenditure in the National Assembly next week, on Thursday 26th November. The 2% intermediated money transfer tax stays, but the tax-free threshold is now ZWL$100, from ZWL$20 previously. FINANCE and Economic Development Minister, Professor Mthuli Ncube, is expected to present the 2021 national budget statement on Thursday next week. The 2021 national budget was presented before the House of Assembly by the Minister of Finance and Economic Development on the 26 th of November 2020, and this will be followed by the approval by parliament paving way for its implementation, starting January 2021. Zimbabwe's Minister of Finance and Economic Development presented the 2021 National Budget Statement to Parliament on 26 November 2020. Finance Minister Mthuli Ncube has promised enough funding for anti-graft bodies such as the Zimbabwe Anti-Corruption Commission (ZACC) in his 2021 budget. While presenting the 2021 national budget statement Ncube said if Ziscosteel is revived government will save close to US$1 billion. FINANCE minister Mthuli Ncube yesterday gave struggling workers something to cheer about ahead of the festive season when he presented his 2021 National Budget in Harare — significantly easing tax thresholds and promising to recover 150 000 formal jobs which were lost due to the coronavirus pandemic. Prof Ncube said recent shocks in the form of droughts, cyclones and the Covid-19 pandemic, have undermined Zimbabwe’s efforts to build physical infrastructure and delivery of planned public services, hence the need to build resilience. He said this while giving a brief of his ministry’s Pre-Budget Paper during Tuesday’s post-cabinet media briefing in Harare. We are located at the 4th Floor, Block E, New Government Complex, Corner Samora Machel and Fourth Street, Harare, Zimbabwe. Please click here for the 2021 National Budget Statement. Zimbabwe's economic statistics are distorted by high inflation, and the government's claim of recovery is misleading. 2021 budget: A bitter pill to swallow Posted on December 4, 2020 by The Zimbabwe Independent in Main News THE 2021 budget presented by Finance minister Mthuli Ncube last week missed a golden opportunity to stimulate various productive sectors of the economy. Prof. Mthuli Ncube. More. Cars older than 10 years are now off the Open General Import Licence. Finance minister Mthuli Ncube presented the 2021 National Budget to parliament on November 26. Highlights From the Zimbabwe 2020 National Budget courtesy of newZWire. The 2021 Budget Strategy Paper, themed “Building Resilience and Economic Recovery Post COVID-19”, was launched by Finance and Economic Development Minister Mthuli Ncube in Harare this morning. 2021 National Budget Speech. A big part of Finance Minister Mthuli Ncube’s 2021 budget is a range of new tax measures to fund his ambitious $421.6 billion budget. This means that, from 2021, you will need a special import licence for older cars. Proceedings will then be adjourned until Tuesday 8th December. But resenting a $421.6 billion 2021 national budget to Parliament on Thursday, Finance Minister Professor Mthuli Ncube said this year’s economic setback will be reversed next year on expectation of receding Covid-19, global economic recovery and good agricultural output. Tags: National; +263 24 2794571-9 or email: feedback@zimtreasury.gov.zw. The tax-free bonus has increased from ZWL5 000 to ZWL25 000. The local currency will anchor this budget.” Finance Minister Mthuli Ncube last week presented a budget that targets spending of 421.6 billion … on November 26, 2020. The Finance minister of Zimbabwe announced the 2021 Budget. Harare. The maximum payable by corporates is now ZWL$25,000 from ZWL$15,000 currently for transactions above ZWL$1.25 million. External Relations Directorate ; Journals & House Procedures Directorate. Zimbabwe’s 2021 national budget towards a social protection to all vulnerable groups, in total, has an allocation of ZW$6,9 billion (US$793 million) to the Ministry of Public Service, Labour and Social Services, which is 1,64% of the budget down from the 2020 percentage share of 4,3%. Below are the key highlights under Personal Income Tax: Effective 1 November 2020. Economy | November 24th 2020 Zimbabwe's five-year growth plan unrealistic. Zimbabwe’s finance minister, Mthuli Ncube, says the local economy is expected to grow by 7,5 percent in 2021, backed by a stable exchange rate and other financial measures. The main tax-related measures of the Budget include the following: The introduction of a Cannabis Levy, chargeable on the value of exports at the following rates corresponding to the level of processing: The National Budget comes at a time when the country has achieved some measure of … The EITI was launched in 2002 at the World Summit on Sustainable Development in Johannesburg, South Africa in a … HARARE - Finance and Economic Development Minister, Mthuli Ncube on Thursday tabled a Z$421 billion (US$5.14 billion) budget for 2021 which has raised serious concerns as some of it's key highlights pile more misery to the already suffering ordinary citizens. FINANCE Minister Mthuli Ncube Thursday moved to widen governments tax collection nets as he delivered his $421.6 billion budget for 2021 which will see new tax measures being applied on … Within a month, the budget will be presented before the House of Assembly by the Minister of Finance and Economic Development, and this would be followed by the approval by parliament paving way for its implementation, starting January 2021. The council is expected to gobble over $20 million of the 2021 budget in purchasing vehicles. Treasury plans tough tax … Minister of Finance & Economic Development. 16:30Hrs, every Monday to Friday except Public Holidays tax-free threshold is now ZWL $ 15,000 currently for transactions ZWL. Directorate the Finance minister Mthuli Ncube, is expected to present the 2021 National Budget Statement has spent US. 'S five-year growth plan unrealistic is expected to take up ZW $ 142 billion on 26 2020. 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