Source:CZR lauds mid-year budget –heraldSikhulekelani Moyo,Zimpapers Business HubTHE Confederation of Zimbabwe Retailers (CZR) has welcomed pronouncements in the 2025 Mid-Term Budget Review recently presented, saying they reflect a deliberate and effort from wide consultations by the Government to sustain economic recovery, stabilise macroeconomic fundamentals and support the growth of industry and commerce.This comes soon after the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, on 31 July, presented the 2025 Mid-Term Budget and Economic Review, which CZR said presented another opportunity to consolidate economic gains made so far in stabilising the economy.In a statement, CZR president Dr Denford Mutashu said the success of the mid-year fiscal policy initiatives would, however, be determined by the pace and depth of implementation.He said industry and commerce, particularly the retail and wholesale sector, remain vital pillars of national development.“CZR welcomes the 2025 Mid-Term Budget Review statement delivered by the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube,” said Dr Mutashu.“The Budget Review reflects a deliberate and consultative effort by the Government to sustain economic recovery, stabilise macroeconomic fundamentals, and support industry and commerce.“As a representative of one of the most dynamic and essential sectors of the economy, the wholesale and retail sector, we are pleased to note the growing recognition of the role this sector plays in driving employment, facilitating domestic value chains and promoting consumer access to goods and services.”Dr Mutashu said the macroeconomic environment had shown notable signs of improvement, particularly with the stabilisation of the Zimbabwe Gold (ZWG) currency.He said the convergence of official and market exchange rates and reduced volatility in the currency market had gone a long way in restoring predictability for planning and pricing.“Inflation has been trending downward and fiscal discipline remains commendable This stability, if maintained, is a positive signal to the business community,” he said.“However, macroeconomic gains must be consolidated through strengthened investor confidence and sector-specific support to ensure that the stability translates into tangible growth and resilience for industry and commerce.“The retail and wholesale sector, heavily reliant on consumer demand and supply chain efficiency, stands to benefit immensely from a predictable and low-inflation environment.”The mid-term budget raises pertinent issues regarding tax compliance, highlighting the paradox where non-compliance often appears more profitable than compliance.While the nation appreciates efforts to expand the tax base and improve revenue collection, CZR said the absence of relief measures for already compliant businesses is cause for concern.Dr Mutashu said the retail and wholesale sector, as well as the economy at large, continued to face pressure from taxes like the 2 percent Intermediated Money Transfer Tax (IMTT), which is the highest in the region.“These issues hinder formal sector competitiveness and drive more players into informality and a cash-based economy,” he said.“We believe a comprehensive tax rationalisation exercise is necessary, one that introduces progressive tax reforms, especially for businesses operating within formal structures.”The organisation further commended the commitment by the Government to provide targeted support for the sector, which is suffering from unfair competition from the informal sector.Dr Mutashu said that to address these challenges and stimulate renewed growth, there was a need for deliberate policy action that strengthened access to affordable capital.“We commend the Government for extending the Targeted Finance Facility towards the retail and wholesale sector; however, the cost of this facility at 30 percent interest has hindered uptake,” said Dr Mutashu.“It is important that the Government supports and recognises the retail and wholesale sector not only as a key economic driver but also as a crucial link between production, distribution, and consumption.“Rebuilding business confidence in retail will require reducing regulatory costs, stabilising the policy environment and supporting formalisation drives for SMEs through incentives and simplification of the tax regime.”CZR also commended the minister for highlighting ongoing reforms to improve the ease of doing business, particularly through the rationalisation of licensing processes and reduction in compliance costs.Related posts:Retailers tip consumer spending to pick upGovernment unveils rules for ZSE self-listingZimbabwe plugs aid gaps with domestic revenueMthuli Breaks Down US$114 Million Trabablas Interchange Cost‘Smart cities need inclusive approach’
Source:CZR lauds mid-year budget –herald
Sikhulekelani Moyo,Zimpapers Business Hub
THE Confederation of Zimbabwe Retailers (CZR) has welcomed pronouncements in the 2025 Mid-Term Budget Review recently presented, saying they reflect a deliberate and effort from wide consultations by the Government to sustain economic recovery, stabilise macroeconomic fundamentals and support the growth of industry and commerce This comes soon after the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, on 31 July, presented the 2025 Mid-Term Budget and Economic Review, which CZR said presented another opportunity to consolidate economic gains made so far in stabilising the economy In a statement, CZR president Dr Denford Mutashu said the success of the mid-year fiscal policy initiatives would, however, be determined by the pace and depth of implementation
He said industry and commerce, particularly the retail and wholesale sector, remain vital pillars of national development “CZR welcomes the 2025 Mid-Term Budget Review statement delivered by the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube,” said Dr Mutashu “The Budget Review reflects a deliberate and consultative effort by the Government to sustain economic recovery, stabilise macroeconomic fundamentals, and support industry and commerce “As a representative of one of the most dynamic and essential sectors of the economy, the wholesale and retail sector, we are pleased to note the growing recognition of the role this sector plays in driving employment, facilitating domestic value chains and promoting consumer access to goods and services.”
Dr Mutashu said the macroeconomic environment had shown notable signs of improvement, particularly with the stabilisation of the Zimbabwe Gold (ZWG) currency
He said the convergence of official and market exchange rates and reduced volatility in the currency market had gone a long way in restoring predictability for planning and pricing “Inflation has been trending downward and fiscal discipline remains commendable This stability, if maintained, is a positive signal to the business community,” he said “However, macroeconomic gains must be consolidated through strengthened investor confidence and sector-specific support to ensure that the stability translates into tangible growth and resilience for industry and commerce
“The retail and wholesale sector, heavily reliant on consumer demand and supply chain efficiency, stands to benefit immensely from a predictable and low-inflation environment.”
Source: Zimbabwe Situation
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Source: Zimbabwesituation
