Nevanji Munyaradzi Chiondegwa
Treasury surpassed targeted revenue collections with a total of ZW$156.5 billion having been raised in June 2022 against a target of ZW$90.9 billion, representing a 58 per cent excess.
This was revealed by Dr Jenfan Muswere, who is the Acting Minister of Information, Publicity and Broadcasting Services during a post Cabinet Media address in Harare yesterday.
Dr Muswere was giving feedback on the 100-day cycle projects from the Ministry of Finance and Economic Development.
“The Minister of Finance and Economic Development, Honourable Professor Mthuli Ncube, highlighted the following progress for projects under his purview; The 2022 first quarter implementation report of the National Development Strategy 1: 2021-2025 (NDS 1) was finalized and work on the second quarter report is underway”
He further said that the NDS 1 was disseminated in Mashonaland East and West provinces, covering 3 districts in each province. He also spoke on the Mid-Term Budget and Economic Review Report and Budget Strategy Paper saying they are on course to meet the presentation targets. The Insurance and Pensions Commission and the Insurance Bills are at the Second Reading stage in Parliament.
Said Muswere;
“Revenue targets were surpassed with a total of ZW$156.5 billion having been raised in June 2022 against a target of ZW$90.9 billion. A total of ZW$50.7 billion was disbursed towards infrastructure development in June 2022, mainly to roads, housing, dam, irrigation and education infrastructure construction.”
The Ministry of Finance and Economic Development also has the Arrears Clearance Strategy available on the Ministry website. The Accounting Policy and Manual is currently being updated in order to provide clear policy direction and guidance to users.
Other projects from the Ministry include the selection of the Ministries, Departments and Agencies which will report using the International Public Sector Accounting Standards (IPSAS) which is being finalized, while the identification of State Enterprises which will be exempted from reporting using IPSAS is on-going.
It was further announced that two sensitisation workshops on the operationalisation of Sector Working Groups of the Co-operation Policy and Manual of Procedures were held and the installation of the Development Projects Management Information System (DevProMIS) was completed in June 2022; and the consolidation of the second quarter development partners’ disbursements is in progress.
Recent Comments