Zim's 2011 National Budget Set For July 15

In an interview, Biti said the country need to return to economic prosperity sooner rather than later because it was missing out on major events internationally.

“The National Budget date is July 15,” he said in an interview. “This will be a very serious affair and we will be looking at issues such as low manufacturing sector and how we can produce again. There are major areas of concern and these have to be sorted out. This will be a six months National Budget on July 15.”

He said the country faces serious challenges such as low capacity, low capital as well as no Direct Foreign Investment coming in.

On the issue of a multi-currency, Biti said Zimbabwe had the choice to choose whatever currency it wanted.
The country is using the South African Rand and the US dollar right now.

“We can go our own way,” he said. “We will follow the regional route and see which currency benefits us all. We are guided by the Fee Trade Area (FTA), Comesa and Sadc,” he said.

This will be Biti’s second National Budget using foreign currency in Zimbabwe.