Parliament’s Portfolio Committee on Finance and Economic Development, which reviewed Finance Minister Patrick Chinamasa’s mid-term fiscal policy review announced last week, says the government should seriously consider how to unlock value of the country’s natural resources to finance development programmes.
A team of Chinese experts from the State planning body, the National Development and Reform Commission, is in Zimbabwe to evaluate the mega deals signed by President Robert Mugabe and the Chinese President Xi Jinping last year.
Tourism and Hospitality Industry Minister Walter Mzembi says the government must reduce the 15 percent Value Added Tax (VAT) on foreign accommodation to five percent to grow the sector and boost state revenue.
The Speaker of Parliament Jacob Mudenda last week issued an order to legislators not to interrupt the flow of debate through unnecessary point-of-orders.
Trade between Zimbabwe and Mozambique grew 64 percent to $725 million in two years to 2014, attributed to an operational bilateral trade agreement which gives two countries duty concessions to qualifying products.
The government’s revised economic growth of 1.5 percent for the year is too ambitious and shows that the economy has stalled, with no immediate prospects for recovery, a local investment advisory firm has said.