Zimbabwe: 'Once You Begin to Budget in Trillions, You Must Know You Have Lost It' - Says Biti As He Shreds Mthuli's Supplementary Budget

'Once You Begin to Budget in Trillions, You Must Know You Have Lost It' -Biti NewZimbabweCom: Zimbabwe

"We have been there before, in 2006, 2007 and 2008, once you begin to budget in trillions, you must know you have lost it. You must know that you have now become an innocent by-stander to the economy.

Presented as part of the Minister's mid-term fiscal review, the supplementary budget requested additional spending of ZW$929.3 billion on top of the initial 2022 approved budget of ZW$968.3 billion, consequently increasing the proposed 2022 budget ZW$1.9 trillion. "The concern is that the underlying assumptions made by the Minister were so far off the mark that hardly more than six months later, he has had to come to this august House to ask for a 100% increase in his budget," he said.

"Bear in mind that we already have a Financial Adjustment Bill tabled in February, 2022 in respect of which the Minister is asking for condonation by this august House of over expenditure in 2019 and 2020 of $103 billion," said Biti.

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