AUTHORITIES in Kwekwe have resolved to cut down the city\u2019s $471 million budget for 2020 after convincing themselves the country\u2019s inflation was slowing down.<\/p>\n
Speaking to NewZimbabwe.com following a recent full council meeting, Kwekwe City Deputy Mayor Shadreck Tobaiwa said when the city proposed the budget figures, it had been anticipation continued acceleration of the country\u2019s inflation, hence its decision to inflate its own budget estimates.<\/p>\n
Tobaiwa however said the figures have not risen as high as anticipated to warrant the hike.<\/p>\n
\u201cWe are currently working on cutting the budget downwards as we currently revised the figures downwards.<\/p>\n
\u201cWhen we were making budget projections, the decisions were being informed by the inflationary environment currently obtaining in the country.<\/p>\n
\u201cHowever, we had anticipated that by now the figures would have hit astronomical heights but that is not the case.<\/p>\n
\u201cWe are therefore, revising figures downwards as we don\u2019t want to burden the rate payers,\u201d said Tobaiwa.<\/p>\n
Speaking on the budget last year, Kwekwe Mayor Angeline Kasipo said the increase at the time was informed, \u201cby uncertain economic times in the country\u201d.<\/p>\n
She said the harsh economic environment coupled with the fast diminishing value of the local currency made it difficult for authorities in the city to efficiently give service delivery to residents.<\/p>\n
\u201cWe are proposing a $471 million budget for the year 2020. The budget is informed by the unfavourable economic situation which has seen the local currency losing value on a daily basis,\u201d she said.<\/p>\n
Kwekwe has been experiencing challenges in supplying water consistently to residents citing water chemical shortages.<\/p>\n
High power tariffs have added to the city\u2019s water woes.<\/p>\n
\u201cTo service our water works, ZESA is charging us about $2, 9 million a month. The amount is rising monthly. Given such a situation, it is very difficult for us to make projections on capital projects,\u201d she said.<\/p>\n
Kasipo said the local currency was fast losing value adding that the city\u2019s budget was usually operational in March.<\/p>\n","protected":false},"excerpt":{"rendered":"
AUTHORITIES in Kwekwe have resolved to cut down the city\u2019s $471 million budget for 2020 after convincing themselves the country\u2019s inflation was slowing down. Speaking to NewZimbabwe.com following a recent full council meeting, Kwekwe City Deputy Mayor Shadreck Tobaiwa said when the city proposed the budget figures, it had been anticipation continued acceleration of the […]<\/p>\n","protected":false},"author":84,"featured_media":19736,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[1097,605,675],"class_list":{"0":"post-19734","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-community","9":"tag-hyperinflation","10":"tag-kwekwe","11":"tag-zesa"},"yoast_head":"\n