National
Zimbabwe’s economy to defy drought odds, says Fin
BY NOKUTHABA DLAMINI
In his midterm budget presentation for 2024 , Finance Minister Mthuli Ncube outlined the government’s fiscal strategy to navigate the challenges posed by the El-Nino induced drought, while maintaining a stable economy.
“The fiscal policy thrust and macro-fiscal framework of the approved 2024 National Budget remains unchanged under the theme ‘Consolidating Economic Transformation’,” Minister Ncube stated on Thursday at the National Assembly.
Despite the drought’s impact, the government’s priority is to “alleviate the impact on vulnerable households and the economy, as well as ensuring that the economy emerges stronger and more resilient going forward.”
Minister Ncube emphasized the need to address the elevated food assistance needs of citizens, while maintaining a stable economic environment.
The introduction of the ZiG currency in April 2024 has brought “relatively stable prices and exchange rate stability,” according to Ncube.
To maintain this stability, the government will implement supportive tax and expenditure policies to increase demand for the local currency, complemented by monetary policy that manages market liquidity.
Looking ahead to the end of the year, Ncube outlined measures to protect the domestic currency and restore macro-economic stability. “Containing expenditure pressures and major expenditure heads such as the wage bill and debt servicing will be critical in order to avoid monetising the budget deficit,” he cautioned.
The re-calibrated 2024 Macro-Fiscal Framework projects revenues of ZiG93.2 billion (22% of GDP) and expenditures of ZiG98.8 billion, resulting in a budget deficit of ZiG5.6 billion (1.3% of GDP).
Despite the drought, Ncube expressed optimism, stating, “The current stable economic environment, together with economic transformation and diversification underway, is expected to enable the economy to register positive economic growth of 2%.”
BY NOKUTHABA DLAMINI
Blessing Waison and Fortunate Chidzivo took top honors at the 2025 Econet Victoria Falls Marathon yesterday, as Zimbabwean long-distance runners excelled at Africa’s most prestigious road race.
Econet General Manager – Marketing, Mrs Tariro Muchena (left), and Finance Director, Mr Chengeto Moyo, present the winner’s prize to men’s marathon champion, Blessing Waison, at the 2025 Econet Victoria Falls Marathon, while Victoria Falls Mayor, Mr Prince Moyo, looks on
The event, which featured athletes from over 40 countries, saw Waison storm to victory in the men’s full marathon, clocking 2 hours, 13 minutes, and 16 seconds. He narrowly beat decorated Olympian Isaac Mpofu in a thrilling duel that brought thousands of spectators to their feet.
Godwin Katakura followed closely in third, completing an all-Zimbabwean podium sweep in the 42.2km race. The trio’s success came with bigger rewards this year, after Econet Wireless doubled the total prize purse to $50,000.
Waison walked away with $3,000, while Mpofu and Katakura earned $2,000 and $1,500, respectively.
In the women’s marathon, Chidzivo delivered a commanding performance, clocking 2 hours and 42 minutes to claim another major title in her illustrious career. Ethel Pangiso and Phillipa Dube completed the women’s podium in second and third place, respectively.
Rising star Wayne Kabondo turned heads in the men’s 21km half marathon, overcoming a formidable field to finish in 1 hour, 3 minutes, and 44 seconds. Kabondo pocketed $1,500 for his efforts.
In the women’s 21km race, Caroline Mhandu crossed the line in 1 hour, 17 minutes, and 50 seconds, ahead of Miriam Sibanda and Melody Kaseke.
The marathon’s inclusive spirit was evident in the 18km Specially Abled Races, which saw uplifting performances across different categories. Godknows Hamadziripi claimed the men’s tricycle title, while Samson Muroyiwa won the handcycle event.
Among the women, Stella Jongwe triumphed in the handcycle race, and Ratidzo Tomu took first position in the tricycle category.
Organized by Econet Wireless in partnership with Wild Horizons, the 2025 edition drew over 5,000 participants and spectators from more than 40 countries. The marathon route, widely regarded as Africa’s most scenic, winds through game reserves and offers spectacular views of the Zambezi River and Victoria Falls.
https://x.com/vic_falls_live/status/1941861569450725776?s=46
Beyond the races, this year’s event featured live music, traditional dance, health expos, and community wellness activities.
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insightsway
July 27, 2024 at 9:01 am
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