Nov. 11, 2020
Cabinet adopted the National Development Strategy (NDS) 1: 2021-2025 which will replace the Transitional Stabilisation Programme. NDS 1 will be replaced by NDS 2 post 2025. NDS 1 and NDS 2 are a stepping stone towards achieving vision 2030 and would run under the theme: “Towards a Prosperous and Empowered Upper Middle-Income Society by 2030.”
Feb. 10, 2021
Zimbabwe Revenue Authority (Zimra),had its collections for the three months to December surpassed the revised set targets. Net collections for the period under review amounted to $91,51 billion resulting in a positive variance of 8,44 percent against the target. For the full year, Zimra collected net revenue of $182,59 billion against a target of $171,90 billion for the year ending December 31, 2020 and this translated to 6,22 percent above target.
Jan. 6, 2021
By the end of December 2020 Government had approved 52 out of 92 local authorities’ 2021 budgets; 24 budgets were received in the last two days and were still being analysed and should be finalised by January 8, 2021
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.
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”.
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.