July 20, 2020 / 7:07 AM / 22 days ago

Zimbabwe on course to meet 2020 budget deficit target -finmin

JOHANNESBURG, July 20 (Reuters) - Zimbabwe’s finance minister Mthuli Ncube said on Monday the country was on track to meet its budget deficit target of 1.5% of GDP in 2020 in a key update that was absent from his mid-term budget last week.

“I am still focusing on a budget deficit of 1.5% of GDP and we are well on our way to achieving that,” Ncube said during a review of the half-year budget held virtually, adding the government will not seek any further funding because it had spent less than 50% of the budget by June.

Reporting by Macdonald Dzirutwe; writing by Emma Rumney; editing by Jason Neely

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