Pressure is on Zimbabwe’s new leader to fulfil his pledges to be tough on corruption and to act fast to turn the country’s fiscal woes around.
Zimbabweans are hoping for better economic prospects under newly installed President Emmerson Mnangagwa. He has promised to take a different approach from that of his predecessor in running the struggling state, with economists saying the new leader needs to take advantage of the current momentum to change the country for the better.
Zimbabwe’s interim finance minister, Patrick Chinamasa, was restored to his former post this week by Mnangagwa – after he had been moved to head up the newly created ministry of cyber security by former president Robert Mugabe, as part of his last Cabinet reshuffle.
Chinamasa will outline Zimbabwe’s budget for 2018 on December 7. He is expected to trim government expenditure and tighten the country’s fiscal deficit, which is estimated to top $1.2 billion (R16.5 billion) this year, according to Treasury officials.