RE: ZIM budget14 Nov 2019 15:04
Extracts from budget announced this afternoon:
37. Key growth restoration drivers will be agriculture (5%) and mining (4.7%)110. It is projected that the remainder of the year will maintain a steady growth in both the mining and industrial indices as the economy begins to stabilise. The high trading in both the mining and industrial shares is reflected by the market capitalisation which has been on a sharp increase, from ZWL$20.8 billion at the beginning of the year to ZWL$30.5 billion in September 2019, as shown below...
153. In the spirit of partnership, Government is taking a pro-active role to address concerns our partners and many other stakeholders continue to raise over cost of corruption, transparency and accountability, security of tenure and investment climate/framework in mining.
198. The stabilisation reforms started from the last quarter of 2018 lay a firm foundation for enhancing productivity for sustainable economic growth. The thrust for the 2020 Budget is centred on ramping up productivity in the agriculture, manufacturing, mining and services sectors to create jobs and reduce imports.
228. Realisation of the US$12 billion mining industry by 2023 will be advanced through the 2020 Budget. The sector is projected to rebound to 4.7% on account of the expected improvement in the electricity situation
234. Accordingly, the Budget is allocating ZWL$293.2 million to the Ministry of Mines and Mining Development for its capacitation in the areas of planning, exploration, data capture and automation, among others.