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Biti delays budget speech to Thursday

22/11/2011 00:00:00
by Reuters
 
Budget revision ... Tendai Biti's 2012 budget boosted by Marange all-clear
 
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FINANCE Minister Tendai Biti said Tuesday's scheduled budget speech had been postponed to Thursday so President Robert Mugabe and Prime Minister Morgan Tsvangirai could both attend.

"Due to various commitments on their part, the presentation of the 2012 National Budget is deferred from Tuesday to Thursday in parliament," Biti said in a statement.

"Any inconvenience caused to stakeholders is sincerely regretted," the statement added.

Biti said in August the economy would grow between 7.8 and 9 percent in 2012, down from the projected 9.3 percent this year and the government would run a budget deficit of US$700 million.

Zimbabwe is preparing for presidential and parliamentary elections, which could be held as early as 2012, and Biti would be expected to set aside funds for the vote.

The mineral-rich country is in a fragile recovery after a decade of steep decline.

Biti said in the last fortnight he had been forced to re-open the 2012 income projections after Zimbabwe got the greenlight from the Kimberley Process to sell its diamonds from the Marange area on the international market.



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