Zimbabwe's New Government Promises Infrastructure Investment
Finance minister offers program based on Chinese funding
In early December, the government of Zimbabwe's new President Emmerson Mnangawa unveiled a program to remediate the collapsing economy left behind by deposed strongman Robert Mugabe. Economists estimate the country's infrastructure development is running a deficit of $42 billion.
In his 2018 budget speech on Dec. 7, Finance Minister Patrick Chinamasa, who held the same job under Mugabe, said the new leadership is increasing the national budget's infrastructure spending rate to 15% of the national budget in 2018 from the 11% in 2017. He also said the share will be further increased to 25% by 2020.