Connect with us

Uncategorized

Zimbabwe plans to double budget in 2022 amid rising inflation

Published

on

BY NELSON BANYA

Finance minister Mthuli Ncube says he would propose a $900 billion (US$9.68 billion) budget for 2022, more than double this year’s total, as the country struggles with surging inflation.

Advertisement

In July, Ncube had signalled plans for a $579 billion budget in 2022 and the latest upwards revision signals how inflation is impacting the government’s planning.

“The overall 2022 budget envelope is $900 billion. However, my last count of the bids submitted by line ministries indicates resource requirements in the excess of $3 trillion,” Ncube told lawmakers at a pre-budget meeting in Victoria Falls on Monday.

“Surely, this is beyond our capacity, and more fundamentally, poses challenges from a prioritisation point of view,” Ncube said, without giving any indication what plans would be dropped.

Advertisement

The 2021 budget is worth $421.62 billion.

Although year-on-year inflation has slowed down to 51.55 percent in September from a high of 837.53 percent in July 2020, the government says inflation could quicken towards the end of the year due to rising international energy and food prices as well as a weaker local currency.

The central bank has had to revise its year-end inflation target twice this year. Inflation is now expected to close the year in the 35 percent to 53 percent range, after the initial forecast of below 10 percent.

Advertisement

Ncube brought back the local currency in 2019, ending a decade of dollarisation. However, the local unit has rapidly lost value since its return.

The government has, in recent weeks, cracked down on black market foreign currency trade in a bid to stop the slide in the currency’s value.

Although the official exchange rate of the Zimbabwe dollar is 93 to the United States dollar, the local unit is trading much weaker on the unofficial market, with some rates as low as 200 to the greenback. – Reuters

Advertisement

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National

Zimbabwe fast-tracks approval of long-acting HIV prevention drug Lenacapavir

Published

on

BY WANDILE TSHUMA

Zimbabwe has taken a major step in the fight against HIV following the rapid approval of Lenacapavir, a groundbreaking long-acting injectable for HIV pre-exposure prophylaxis (PrEP). The Medicines Control Authority of Zimbabwe (MCAZ) authorised the drug in just 23 days, marking one of the fastest regulatory approvals in the country’s history.

Advertisement

The application, submitted by pharmaceutical company Gilead Sciences in October, underwent an expedited review because of its public health importance. MCAZ says the fast-tracked process did not compromise scientific scrutiny, with the product subjected to a rigorous assessment of its safety, efficacy and quality.

Lenacapavir is designed for adults and adolescents weighing at least 35kg who are HIV-negative but at substantial risk of infection. Unlike traditional daily oral PrEP, the medicine is administered as a six-monthly injection, following an initiation phase that includes one injection and oral tablets on Days 1 and 2. Health authorities say this long-acting formulation could dramatically improve adherence and expand prevention options, particularly for communities where daily pill-taking is difficult.

MCAZ Director-General  Richard T. Rukwata described the approval as a landmark moment in Zimbabwe’s HIV response.

Advertisement

“The rapid approval of Lenacapavir reflects MCAZ’s dedication to accelerating access to trusted, high-quality health products. This milestone brings new hope for HIV prevention and reinforces our commitment to safeguarding public health,” he said.

To fast-track the process, the Authority applied a regulatory reliance approach, drawing on scientific assessments from the World Health Organization’s Prequalification Programme (WHO PQ). This allowed evaluators to build on internationally recognised review processes while ensuring Zimbabwe’s own standards were met.

The introduction of Lenacapavir comes as Zimbabwe continues efforts to reduce new HIV infections, particularly among young people and key populations who face barriers to consistent PrEP use. Public health experts say the drug’s twice-yearly dosing could be a game changer in improving uptake and protection.

Advertisement

MCAZ says it remains committed to ensuring Zimbabweans have access to safe, effective and good-quality medical products, in line with its mandate under the Medicines and Allied Substances Control Act.

Advertisement
Continue Reading

Slider

ZimParks to host first-ever International Wildlife Conservation symposium

Published

on

BY NOKUTHABA DLAMINI

The Zimbabwe Parks and Wildlife Management Authority (ZimParks) will hold its inaugural International Wildlife Conservation Symposium under the theme “Wildlife Conservation and Sustainable Development.”

Advertisement

The two-day event, scheduled for October 22 to 23, next week, will take place at the Management Training Bureau in Msasa, Harare. It will bring together conservationists, researchers, policymakers, and students to discuss key issues around wildlife protection and sustainable development.

The symposium will focus on eight sub-themes, namely Wildlife Conservation and Transboundary Management, Freshwater, Fisheries and Aquatic Management, Sustainable Tourism and Socio-Economic Development, Human-Wildlife Interactions, Environmental Health and Safety, Climate Change Adaptation and Mitigation, Community-Based Natural Resource Management, and Natural Resource Policy and Governance.

ZimParks says the symposium will provide a platform to exchange ideas and deepen understanding of the link between wildlife conservation and sustainable development. Members of the public, students, and professionals are encouraged to attend.

Advertisement

 

Advertisement
Continue Reading

National

CCC legislators in road accident, Nkulumane MP dies

Published

on

BY STAFF REPORTER

One Citizens Coalition for Change (CCC) legislator has died while four others were seriously injured in a road accident that occurred early Friday morning near Shangani along Bulawayo-Harare highway.

Advertisement

CCC spokesperson Promise Mkhwananzi confirmed the accident, saying it happened between 2 a.m. and 3 a.m. when the vehicle carrying the members collided with an elephant.

“The vehicle hit an elephant along the Shangani area, and unfortunately Honourable Desire Moyo, the Member of Parliament for Ngulumane, died on the scene,” Nkwananzi said.

He added that the other occupants — Honourable Madalaboy Ndebele, Senator Rittah Ndlovu, Honourable Sethulo Ndebele, and Libion Sibanda — sustained serious injuries and were rushed to a hospital in Bulawayo.

Nkwananzi said he was deeply shocked by Moyo’s death, as he had met him just yesterday in Harare.

Advertisement

“I had seen Moyo yesterday and we spent about an hour chatting outside Jamieson Hotel about the party and our future plans for national development,” he said. “I’m gutted by his passing. It’s a huge loss for the party.”

He conveyed his condolences to the Moyo family and wished a speedy recovery and strength to the families of the other CCC members who remain in critical condition.

He said further details, including the name of the hospital where the injured are receiving treatment, would be released once confirmed.

Advertisement

Would you like me to prepare a shorter social media version (for X or Facebook) that captures the key facts and emotion in about 3–4 sentences?

Advertisement
Continue Reading

Trending

Copyright © 2022 VicFallsLive. All rights reserved, powered by Advantage