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The National Budget Speech was presented by Finance Minister Tendai Biti in Parliament on Thursday November 24 2011.
Sustaining Efficient Inclusive Growth with Jobs
1. Mr Speaker Sir, the crafting of the 2012 Budget was a daunting task, given the triple 'demons' of a highly charged political environment, insatiable fiscal demands on the State and a highly volatile global financial environment.
2. This is more so in 2012 where, in addition to our traditional 'elephantine' demands, the obligations of monetising the Peace Process, particularly the Constitutional Referendum, are unavoidable.
3. Mr Speaker Sir, the demands on the Budget are so large visà- vis the resource envelope such that in the words of Oliver Baloyi, 'tawanzisa mbambo padehwe reshindi varume we.'
4. Thankfully Mr Speaker Sir, through the grace of God, I have the pleasure of moving a Motion in terms of Standing Order No. 94(1) of the Esteemed Rules of this August House that leave be granted to bring in a Bill in connection with the Revenues and Expenditures of the Republic of Zimbabwe for the fiscal year January - December 2012.
5. Mr Speaker Sir, this Motion is brought in compliance with the provisions of our Law.
6. Section 103 (1) of the Constitution of Zimbabwe, read together with Section 28 (1) (a) of the Public Finance Management Act [Chapter 22:19], obliges the Minister responsible for Finance to prepare and lay before Parliament, on a day on which Parliament sits, before or not later than 30 days after the start of each financial year, Estimates of Revenue and Expenditure of Zimbabwe for that financial year.
8. Mr Speaker Sir, it was evident from the very first day of the Inclusive Government that the State of our Economy was parlous and atrophying, demanding that dif? cult, but strategic choices had to be made, which were both curative and palliative.
9. Those decisions, Mr Speaker Sir, were made through the Government Work Programme and the Short Term Emergency Recovery Programme (STERP), representing the first step towards the economic rehabilitation of our country.
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