{"id":14604,"date":"2019-10-09T20:14:51","date_gmt":"2019-10-09T18:14:51","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=14604"},"modified":"2019-10-09T20:14:51","modified_gmt":"2019-10-09T18:14:51","slug":"mthuli-ncube-projects-10-percent-inflation-decline-by-year-end","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end","title":{"rendered":"Mthuli Ncube Projects 10 Percent Inflation Decline By Year End"},"content":{"rendered":"<p>Finance Minister, <a href=\"https:\/\/en.wikipedia.org\/wiki\/Mthuli_Ncube\">Mthuli Ncube<\/a> says the inflation rate will end the year 2019 at 10% with an expectation that it will reduce further to a single digit by the end of 2020.<\/p>\n<p>According to the 2020 pre-budget strategy paper the Treasury boss hinged the inflation decline prediction on the strengths of outlawing the multi-currency basket.<\/p>\n<p>&#8220;Following the adoption of mono currency in June 2019, supported by further strengthening of both fiscal and month-on-month inflation retreated to 21% by July 2019 and further down to 18% by August 2019.<\/p>\n<p>&#8220;With continued implementation of fiscal and monetary policy reforms and other structural policies, inflation on monthly basis is expected to stabilise around 10 % by end 2019 and at 2.3 % by end of 2020.&#8221;<\/p>\n<p>The remarks come shortly after the International Monetary Fund&#8217;s recent report indicating Zimbabwe&#8217;s monthly inflation reached 300 % in the month of August this year, becoming the highest globally.<\/p>\n<p>Ncube predicts further that Gross Domestic Product is projected to grow by 5% to $209.3 billion in 2020, as revenues are expected to hit $24.8 billion with expenditure estimated at $28.5 billion creating a budget surplus of $4.1 billion.<\/p>\n<p>The strategy paper claims that cumulative merchandise exports for 2019 up to July increased by 7.2%, from US$2 billion during the same period in 2018, to $2.1 billion despite a decrease in gold exports, and largely on account of nickel and tobacco.<\/p>\n<p>At the same time, merchandise imports for the period under review sharply declined by 21%, from US$3.6 billion recorded in the comparable period in 2018, to US$2.8 billion in 2019.<\/p>\n<p>However, in 2020, exports are projected at US$5.5 billion with imports growing to US$6.6 billion on account of higher imports of essential inputs and equipment, including electricity and fuel.<\/p>\n<p>Cumulative revenue collections for the first half of the year 2019 stood at $4.99 billion, against a target of $4.15 billion, giving a positive variance of 20.2%.<\/p>\n<p>Similarly, expenditures for the same period were $4.2 billion, against a target of $3.7 billion, which is $532 million over expenditure of 15%.<\/p>\n<p>A positive rainfall season forecast combined with the above factors, is expected to see agriculture rebound and growth of 10.3% in 2020 against a backdrop of sustained growth and stability.<\/p>\n<p>Added Ncube: &#8220;While the 2020 national budget will continue to consolidate macro-fiscal stabilisation gains made in 2019, the thrust will now shift to the following areas, growth and productivity; job creation; competitiveness; and promotion of more sustainable and shared development.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister, Mthuli Ncube says the inflation rate will end the year 2019 at 10% with an expectation that it will reduce further to a single digit by the end of 2020. According to the 2020 pre-budget strategy paper the Treasury boss hinged the inflation decline prediction on the strengths of outlawing the multi-currency basket. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":1288,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[34,807,395],"class_list":["post-14604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-emmerson-mnangagwa","tag-mthuli-ncube","tag-presidency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mthuli Ncube Projects 10 Percent Inflation Decline By Year End - zimbabwe<\/title>\n<meta name=\"description\" content=\"Finance Minister, Mthuli Ncube says the inflation rate will end the year 2019 at 10% with an expectation that it will reduce further to a single digit\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mthuli Ncube Projects 10 Percent Inflation Decline By Year End\" \/>\n<meta property=\"og:description\" content=\"Finance Minister, Mthuli Ncube says the inflation rate will end the year 2019 at 10% with an expectation that it will reduce further to a single digit\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-09T18:14:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/upload\/sites\/14\/2019\/01\/Mthuli-Ncube-2-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1602\" \/>\n\t<meta property=\"og:image:height\" content=\"1602\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mthuli Ncube Projects 10 Percent Inflation Decline By Year End\",\"datePublished\":\"2019-10-09T18:14:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end\"},\"wordCount\":380,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/upload\/sites\/14\/2019\/01\/Mthuli-Ncube-2-1.jpg\",\"keywords\":[\"Emmerson Mnangagwa\",\"Mthuli Ncube\",\"presidency\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-projects-10-percent-inflation-decline-by-year-end\",\"name\":\"Mthuli Ncube Projects 10 Percent Inflation Decline By Year End - 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