Cabinet approves draft Zimbabwe Inter-Governmental Fiscal Transfers Administrative Manual

by | May 7, 2024 | Business, Local News, Politics | 0 comments

Cabinet approves draft Zimbabwe Inter-Governmental Fiscal Transfers Administrative Manual

Mako Jerera

Cabinet has approved the draft Zimbabwe Inter-Governmental Fiscal Transfers Administrative Manual that will provide the necessary regulatory framework to ensure equitable fiscal transfers to local tiers of Government and the seamless implementation of the devolution agenda, has been approved.

In a post-Cabinet briefing on Tuesday, Information, Publicity and Broadcasting Services Minister Dr Jenfan Muswere said the nation was being informed that the Inter-Governmental Fiscal Transfers from central to lower tiers of Government are provided for under Section 301 of the Constitution.

“These transfers are meant to support the devolution of powers and responsibilities, with not less than 5 percent of national revenues raised in any financial year being allocated to Provinces and Local Authorities,” he said.

“Cabinet notes that the manual will ensure proper administration of the financial resources allocated to lower tiers of Government, by providing clarity on Revenue Sharing and Allocation; Financial Management; Institutional Framework for Managing Inter-Governmental Fiscal Transfers; Other Matters Related to Fiscal Transfers; and Monitoring and Evaluation.”

He said the manual offers a practical and operational guide to the use of inter-governmental fiscal transfers and the roles played by the various parties involved in the administration of the funds.

Meanwhile, Prof Ncube also reported progress on projects under his purview.

Dr Muswere said timely and adequate disbursements for employment costs and social benefits were done, while domestic and external resource mobilisation is ongoing.

He added: “Policy reform matrices for Debt Arrears Clearance were finalised and implementation has commenced and the United Nations Economic Commission for Africa Conference (UNECA) was successfully hosted. Also, the implementation of the International Public Sector Accounting Standards (IPSAS) is ongoing and the introduction of the new currency was accomplished.”