In the budget presented after the end of Robert Mugabe’s era of 37 years of ruling the country, Zimbabwe has taken a few positive steps in order to liberate the economy of the country and make it more open.
Finance Minister Patrick Chinamasa has presented a budget having a few very crucial measures and changes making the economy more tempting an inviting for foreign investors. These measures also include curbing the laws which requires business firms to be 51% owned by domestic businesses or local people.
He also informed that the country is considering on the privatization of some of the state owned firms too. Apart from opening the doors of the economy to the better changes, the budget paid attention to restricting the unnecessary costs and hence the decision of the closure of some diplomatic missions.
Plus all civil servants above the age of 65 years would have to get retired as at present 90% of the government expenditure is spent on the salary of the civil servants.