By Staff Reporter
FINANCE Minister, Mthuli Ncube (pictured) has unveiled a $58,6 billion budget with the Education Ministry receiving the largest chunk of the cake, at $8.5 billion dollars.
Presenting his budget in parliament on Thursday, Ncube also raised the tax-free threshold from $700 to $2000 with effect from 1 January 2020.
The treasury boss also said all civil servants shall receive their 2019 bonuses this November with the tax-free threshold at $1000.
Minister Ncube also allocated $6.5 billion dollars towards Health, $2.2 billion to Higher and Tertiary Education, $3.11 billion towards Defence and War veterans.
He also introduced targeted subsidies on roller meal, cooking oil and standard bread to cushion the ordinary man from ever rising costs of the staple commodities.
Among some of the highlights was the provision of funds towards sanitary wear for pupils doing Grade 4 to form 6.
In his 2020 budget, Ncube also said dam construction will be prioritised at a time citizens were struggling with access to water.
Ncube’s $58,6 billion-dollar budget marks the first time in 10 years the Zimbabwean budget has been pegged in local currency, a sign that authorities were not going back on their decision to revert back to the national exchange.