HARARE, March 12 (NNN-NEW ZIANA) -- Zimbabwe will have to find internal resources to fund its 2.2 billion USD 2010 Budget as is highly unlikely to get any support from donors for this financial year, says Finance Minister Tendai Biti.
The government had estimated that US$1.4 million of the US$2.2 billion Budget would be funded through internal resources while a vote of credit for US$810 million was expected to come from external sources.
"It is very unlikely that donors are going to fill significantly that US$810 million," Biti said here Thursday. "That means we will have to mobilize every cent from this economy, from our natural resources, diamonds in Marange."
Biti said that last year the country had only managed to secure US$35 million in external budget support with US$30 million having been extended by neighbouring
South Africa while the remainder came from China.
Announcing the 2010 budget last year, Biti said cooperating partners had promised to channel resources towards projects that the government would prioritize.
At least 17 percent of the US$810 million vote of credit was targeted to be channelled to the agriculture sector while the remainder would be shared amongst transport and communication, health, water and sanitation among others.
Meanwhile, Biti said the Zimbabwean economy was not yet in a position to sustain high wages and he blasted some officials in government departments who were earning as much as US$13,000.
"Even the World Bank is not paying its officials that much,” he said, adding that it was important that sustainable wages be paid.
He said with high wage demands, civil service salaries accounted for 67 per cent of the government’s expenditure, leaving little room for government to support other sectors of the economy. -- NNN-NEW ZIANA |