TellZim Reporter
The Vendors Initiative for Social
and Economic Transformation (Viset) has criticised the Mid-Year Budget Review recently
presented by the Minister of Finance and Economic Development Prof Mthuli Ncube,
saying it pays lip service to the struggles faced by people in the informal
sector of the economy.
In a statement released in the
wake of the budget statement, the organisation criticised many aspects of the
budget review including failure to release money for disbursement to the most
economically vulnerable citizens.
“It is saddening to note that to
date there has been no meaningful disbursements of the cushioning allowance for
informal traders that was announced back in April. The Minister, in his
presentation, spoke only of a harmonised social cash transfer that is said to
be targeting the poor in 23 districts, with 63000 households benefitting.
“In the interests of
transparency, it would be proper to disclose the quantum that these households
are receiving and through what payment method given the restrictions on bulk
payments by mobile service providers,” Viset says in the statement.
The organisation also expressed
displeasure that the money that government claimed to have set aside for social
welfare grants back in April has not been reviewed upwards despite the ravages
of inflation.
“There was no revision to the
amount previously announced as a stimulus package for business of ZWL 18.2
billion despite the fact that inflation has already decimated this amount
before we have even heard of any disbursements having been done.
“In light of the Minister’s own
acknowledgment that all sectors of the economy will record declines in
production, with the manufacturing sector in particular recording a -10 percent
drop, it is folly that not more resources were channelled in order to boost
production and food security,” the statement reads.
“With regards taxes, the
Intermediary Money Transfer Tax (IMTT) free threshold was raised from ZWL 100
to ZWL 300, in total disregard of the inflation rate reported to be north of
750 percent. The pay as you earn tax free threshold was raised from ZWL 2000 to
5000 but will however be insufficient to boost disposable incomes,” it further
reads.
