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Economy

Government's fiscal policy will put emphasis on strong fiscal discipline, accountability and transparency for the restoration of macro-economic stability.

In Progress

Red flagging of suspicious accounting records by the Auditor General's Office.

Herald

    

Dec. 30, 2019

Auditor-general Mildred Chiri has raised  a red flag over the Zimbabwe Manpower Development Fund (ZIMDEF)’s non-compliance to International Accounting Standard 21 in respect of its 2018 financials.

IAS 21 outlines how to account for foreign currency trans­ac­tions and op­er­a­tions in financial state­ments, and also how to translate financial state­ments into a pre­sen­ta­tion currency.

 

Previous Updates

Upward revision of National Budget by 30% to curb inflation

Herald

    

Nov. 5, 2019

Government has revised 2020 expenditure ceiling from $28 billion by over 30 percent in light of inflation and the need to grow the economy. This was said by Finance and Economic Development Minister Professor Mthuli Ncube in a report titled “2020 Pre-Budget Parliamentary Consultation Meetings; October 30 to November 4, 2019”.

The 2019 Budget will focus on addressing fiscal and current account deficits.

techzim.co.zw

    

Oct. 1, 2018

The economy is showing signs of recovery albeit with a number of challenges and risks. Indications are that, the economy will grow by 6.3% against the original Budget projection of 4.5% and 4.8% estimated for 2017. With this projected growth Zimbabwe will join the “6% club” of African countries growing at more than 6% per annum. However, the quality of the growth, which is primarily being driven by two sectors of agriculture and mining is obviously not inclusive.