THE 2014 MID-YEAR FISCAL POLICY REVIEW STATEMENT

‟Towards an Empowered Society and a Growing Economy”

Presented to the Parliament of Zimbabwe on Thursday, 11 September, 2014 by The Hon. P. A. Chinamasa, MP; Minister of Finance & Economic Development.

INTRODUCTION
1. Mr Speaker Sir, the Mid-Year Fiscal Policy Review complies with Section 7 (2)(a) of the Public Finance Management Act.
2. This requires the Minister responsible for Finance to “provide full and transparent accounts, from time to time and not less than annually to Parliament, indicating the current and projected State of the Economy, the Public Resources of Zimbabwe and the Fiscal Policy of the Government.”
3. Pursuant to this, the Fiscal Policy Review updates the Nation on the fiscal and economic developments during the first half of the year, concurrently providing progress on the implementation of the 2014 National Budget, which is anchored on the Zimbabwe Agenda for Sustainable Socio-Economic Transformation: 2013-18 (ZIM ASSET).
4. Mr Speaker Sir, measures proposed through the Monetary Policy Statement recently issued by the Reserve Bank complement this Statement.
5. The Review also provides the economic outlook to December 2014, and proposes measures supportive of the positive performance of the economy.

6. Mr Speaker Sir, before highlighting domestic economic developments, the Review begins by providing a brief on global economic developments, given the linkages that exist between our economy and the rest of the world.
7. These linkages are particularly reflected through trade, official development cooperation, capital flows, among others.