{"id":34343,"date":"2021-02-06T20:09:34","date_gmt":"2021-02-06T18:09:34","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=34343"},"modified":"2021-02-06T19:06:46","modified_gmt":"2021-02-06T17:06:46","slug":"covid-19-exposed-fakeness-of-mthulis-surplus-opinion","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/covid-19-exposed-fakeness-of-mthulis-surplus-opinion","title":{"rendered":"COVID-19 Exposed Fakeness Of Mthuli\u2019s Surplus \u2013 OPINION"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>An economic commentator, Tinashe Murapata, also known as Baba Nyenyedzi, says Finance and Economic Development Minister Mthuli Ncube\u2019s claims of a surplus have been exposed as mere propaganda as the country struggles to raise funds to buy COVID-19 vaccines to innoculate the population.<\/p>\n

Earlier this week, Ncube was forced to backtrack on his initial comments where he said \u201cprivate\u201d citizens will pay for vaccines, with only the \u201cvulnerable\u201d getting the jab for free.<\/p>\n

Baba Nyenyedzi says citizens, including those in the diaspora and the international community, expect the government of Zimbabwe to be honest. He writes:<\/p>\n

Not many countries in the world have a budget surplus. Not even fake surpluses. Well run countries found themselves in manageable deficits \u2013 without need to print. Borrowing directly from the market place.<\/p>\n

Luxembourg is such an example- in normal years it runs a surplus.<\/p>\n

Mthuli made a mistake touting a surplus when it really wasn\u2019t necessary to propagandize. The economy was already in a depression with the second-highest inflation in the world.<\/p>\n

The government\u2019s domestic debt was being inflated away. Offering pensioners 8% interest when inflation was over 500%<\/p>\n

Perhaps his colleagues didn\u2019t understand. They were happy to be told GOZ domestic debt was falling fast. Remember this was at a time the official ZWL inflation was banned.<\/p>\n

The false euphoria resulted in 2 mistakes; (I) Pension industry crushed to only $1bn, (ii) An insatiable appetite for foreign borrowings was created. Until RBZ debt got to US$5bn<\/p>\n

Faced with the demands of a US$100m vaccine. Mthuli\u2019s answers are NOT convincing. Treasury expects to collect US$4.8bn this year. The highest it has ever collected in history<\/p>\n

If the surplus last year was real & collections this year are double last year then the citizen is right to demand inoculation from their tax dollars. It\u2019s not GOZ money after all!<\/p>\n

Covid has exposed the fundamental weakness in the Zim economy. One can\u2019t wish them away.<\/p>\n

Zim has seen the limits of propaganda. The Mthuli case study has taught me that leadership requires honesty. Moreso public office.<\/p>\n

The world, diaspora & Locals only required an honest government to engage collectively. To remediate early. Get the economy working. & save lives.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. An economic commentator, Tinashe Murapata, also known as Baba Nyenyedzi, says Finance and Economic Development Minister Mthuli Ncube\u2019s claims of a surplus have been exposed as mere propaganda as the country struggles to raise funds to buy COVID-19 vaccines to innoculate the population. Earlier this week, Ncube was forced to backtrack on […]<\/p>\n","protected":false},"author":84,"featured_media":34342,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,1361,35,15],"tags":[1493,2189,2985,2702,807,2831,2984,19],"class_list":{"0":"post-34343","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-coronavirus-in-zimbabwe","9":"category-homepage-english","10":"category-twitter","11":"tag-africa-press","12":"tag-africa-press-zimbabwe-2","13":"tag-baba-nyenyedzi","14":"tag-covid-19-vaccines","15":"tag-mthuli-ncube","16":"tag-surplus","17":"tag-tinashe-murapata","18":"tag-zimbabwe"},"yoast_head":"\nCOVID-19 Exposed Fakeness Of Mthuli\u2019s Surplus \u2013 OPINION - zimbabwe<\/title>\n<meta name=\"description\" content=\"An economic commentator, Tinashe Murapata, also known as Baba Nyenyedzi, says Finance and Economic Development Minister ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/covid-19-exposed-fakeness-of-mthulis-surplus-opinion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COVID-19 Exposed Fakeness Of Mthuli\u2019s Surplus \u2013 OPINION\" \/>\n<meta property=\"og:description\" content=\"An economic commentator, Tinashe Murapata, also known as Baba Nyenyedzi, says Finance and Economic Development Minister ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/covid-19-exposed-fakeness-of-mthulis-surplus-opinion\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-06T18:09:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-06T17:06:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/02\/img-601ecc82df6bf.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/covid-19-exposed-fakeness-of-mthulis-surplus-opinion\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/covid-19-exposed-fakeness-of-mthulis-surplus-opinion\",\"name\":\"COVID-19 Exposed Fakeness Of Mthuli\u2019s Surplus \u2013 OPINION - 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