The Sunday News
FINANCE and Economic Development Minister Cde Patrick Chinamasa presents his mid-term fiscal review statement on Thursday expected to once again re-align the focus on how the country can leverage its economic blue print — Zim Asset to achieve economic growth.
The country is experiencing a number of challenges especially in the manufacturing sector where most companies have either scaled down or retrenched.
The retrenchment overdrive by a number of companies was also stepped up last week after a Supreme Court ruling that gave employers the power to terminate contracts of employment upon issuing three months’ notice without offering an explanation or following the retrenchment route.
Worldwide fiscal pronouncements are also eagerly awaited as most of the pronouncements cover a wide range of sectors and affect a number of people.
Investors and the general public will also be eager to hear how the budget has performed so far as there are complaints that some of the monies that have been budgeted for during the budgets never cascade to the intended projects.
Meanwhile, the Industrial index ended the week on Friday marginally higher by 0.02 points (0,01 percent) to settle at 145.90 points.
SeedCo gained $0,0100 to trade at $1,0200 while Hippo advanced by $0,0005 to close at $0,3905.
Afdis, Delta and Econet maintained previous prices levels at $0,5000, $1,0000 and $0,3400 in that order.
On the downside, Old Mutual shed $0,0025 to close at $2,7400 while Innscor retreated $0,0023 to $0,6202. Pearl was $0,0005 cents weaker at $0,0285.
Week on week Industrial index was up 2.41 points (1,68 percent).The Mining index was flat at 40.94 points. Bindura, Falgold, Hwange and RioZim were unchanged at $0,0320, $0,0060, $0,0410 and $0,1400 in that order. Week on week Mining index increased by 0.85 points (2,12 percent).
