‘Agric sector to get 5% of its ZWL$54,9 trillion bid’

AGRICULTURE should expect to receive 5% of its ZWL$54,9 trillion bid in the 2024 national budget, despite the sector being a key economic driver.

In budget proposals made to Treasury last week, the Lands, Agriculture, Water, Fisheries and Rural development ministry requested a budget of ZWL$54,9 trillion, but Treasury says it will only be able to allocate ZWL$2,8 trillion, which is  ZWL$52,1 trillion off the ministry’s requested amount.

The underfunding comes as the country is facing an El Nino-induced drought, which many fear will worsen the country’s overall economic performance, which is partly sustained by the sector’s 10 to 15% contribution to gross domestic product.

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