Zimbabwe set to announce budget amid inflation concerns

Zimbabwe’s finance minister will present a national budget almost double that of the previous year on the back of rising inflation and a weakening local currency.

The economy which had been severely affected by the coronavirus pandemic is recovering and expected to grow at about 6% this year.

The proposed allocations for 2022 are about a third of what ministries had requested.

Businesses will want to see how the minister proposes to deal with crippling power cuts and how he will prop up the faltering local currency. Many companies prefer to charge US dollars.

Civil servants are demanding wage rises of up to 100% to keep up with rising double-digit inflation.

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