News24

Zim warns violent poll may stunt growth

2012-11-15 18:24

Harare - Zimbabwe's Finance Minister Tendai Biti on Thursday said Zimbabwe's economy would grow by 5% next year but warned the prospects could be scuttled if elections planned for 2013 turned violent.

Biti said in his 2013 budget speech to parliament: "The biggest risk remains a violent and contested election."

Last week he revised this year's growth downwards to 4% from a projected 5.6%.

Next year's growth forecast is based on the assumption that the agro-based country gets good rains; the government applies policies to boost revenue collections and cut expenditure; international commodity prices continue to firm and there is continuous demand for local platinum, diamonds and gold.

Biti said a repeat of the bloody presidential run-off election of 2008 would "collapse the nascent foundation we have built over the last three years."

Zimbabwe is expected to hold elections some time next year to choose a successor to the country's shaky power-sharing government formed by President Robert Mugabe and long-time rival Prime Minister Morgan Tsvangirai.

The coalition government helped mend the economy and avoid a tip into full-fledged conflict in the aftermath of violent elections in 2008.

But Biti did not announce how much from the $3.8bn budget was set aside for elections.

The elections agency said it requires $104m to organise the vote.

Zimbabwe's economy is showing signs of recovery but most companies are still operating below capacity hamstrung by unstable electricity supplies, lack of funds and high labour costs while others have pulled down the shutters or relocated to neighbouring countries.

Much anticipated foreign investment has not been forthcoming with potential investors seeking reassurance over a law which compels foreign companies to sell their majority stake to locals.



Comments
  • danie.strydom.7 - 2012-11-15 19:23

    Wish me luck as you wave me goodbye ...... just don't ask the west for anything. The true African way, just f*ck up everything without any help ..... cheerio here I go on my way ...

      bornwell.dennison - 2012-11-16 01:44

      have a safe journey

  • phaldiemeyer - 2012-11-15 22:33

    Huh??? The only growth you guys have is the growing unemployment or the number of people leaving your stupid ass country...or the number of zanu-pf politicians getting fatter while citizens are starving...or...etc

      raps.magans - 2012-11-16 07:24

      @ phaldiemeyer,with all due respect ,sometimes try to screen what you post on this public forum,saying a country with more than 15 mil citizen( in zim and diaspora) is a "stupid ass country" is an insult to the peace and hardworking people of zimbabwe and it leaves a lot to be desired of your ability to lead a family worse become a father figure....the way you approach your points can also display your level of stupidity.Enjoy your day

      danie.strydom.7 - 2012-11-16 13:03

      LMFAO @ Raps "stupid ass country" is an insult to the peace and hardworking people of zimbabwe" No its not. These same hardworking people have kept the president in control while he f*cks you over, time and time again. Change required, go back to Zim and do something about your country, don't sit in JoBurg feeling insulted, p*ss off

      bornwell.dennison - 2012-11-17 05:25

      there is an old saying that I think applies perfectly to you, Dont argue with a fool,people might not notice the difference

      danie.strydom.7 - 2012-11-17 11:58

      "Everyone of the one million plus Zimbabweans in South Africa are just like you" No they aren't. I am not living in Zim complaining about issues in SA. These zimbos should all sod off back to zimbabwe to deal with the ISSUE they created. I love the liberals, with all the belief they can make things better, when in fact, the reason africans are dying is thanks to the liberal approach. Zim gets what Zim deserves, self governance have brought this on. Choices bring consequences, they chose, this is the consequence. So it is for the zimbos to resolve it, not the bleeding heart tree huggers thinking Zim or Bob will change. Did you miss the report on $2 billion stolen from the diamond field in Zim? I don't have to argue with anyone, my belief is that Zim, like other ex colonial countries is eradicating themselves. SA will follow soon, or haven't you noticed the changes in SA? Now run off and hug some trees. Bob is laughing at you, and zimbos are lining up to come and share the SA wealth (whatever is left)

  • bonetastic.comment - 2012-11-16 15:21

    @ Danie Insult - is an expression, statement (or sometimes behavior) which is considered degrading. "Stupid ass country" = Degrading Change has been attempted in that country many times. All efforts were thwarted by the government. Everyone of the one million plus Zimbabweans in South Africa are just like you and would rather better themselves and make a life for themselves and their families than die by the sword. This is the very reason why transparency in the next elections in that country are very important, so that a non violent solution is reached and the Zimbabweans views are heard and respected. So stopbeinganass.jpg :D

  • sally.ntombi - 2012-11-16 18:39

    As long as Zanu PF are in government, growth will always be stunted

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