Economics
Zimbabwe Unveils Budget Amid Currency Crunch, Inflation Rush
- Nation needs to find ways to widen tax base, Robertson says
- Tax measures introduced in October sparked higher inflation
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Zimbabwe will unveil its 2019 budget amid surging inflation, foreign-currency shortages, a sticky fiscal gap and the need to find cash to pay arrears to lenders so it can restart aid programs that could revive the economy.
Finance Minister Mthuli Ncube, a University of Cambridge-trained economist appointed in September, has been trying to find ways to raise income for the southern African nation to repay billions of dollars in debt incurred in almost two decades of economic mismanagement under former President Robert Mugabe’s rule.