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Ministry of Finance News and Statements...

Launch of the 2011 National Budget Consultative Process
31 August 2010

Introduction

The formulation of a credible National Budget is critical for the realisation of our Developmental targets and the consolidation of positive macroeconomic outcomes achieved to date.

A transparent and consultative approach in National Budget Making therefore becomes critical to enable the various stakeholders including ordinary citizens participate in Budget formulation.

This Press Conference, seeks to inform all Stakeholders on the commencement of 2011 National Budget Consultative Process. It is my sincere hope that all stakeholders will use this Consultative platform to engage with Government on key po...

Fiscalised Tax Registers and Memory Devices Launched
19 August 2010

The Minister of Finance, Hon. Tendai Biti today launched the use of Fiscalised Tax Registers and Fiscal Memory Devices, at a colorful ceremony at the Rainbow Towers in Harare.

Unaudited Consolidated Monthly Financial Statements For The First Half of 2010
11 August 2010

"The Unaudited Consolidated Monthly Financial Performance Statements of the Government Of Zimbabwe are published in compliance with provisions of Section 34 of the Public Finance Management Act Number 11/2009".

This performance Statement highlights the actual performance against the set targets for the period beginning January to June 2010.

To view this Financial Performance Statement please visit our Downloads Section under Other Downloads.

...

Statement on Importation of Animal and Animal Products
05 August 2010

With effect from 31 March 2010, the Veterinary Department, under the Ministry of Agriculture, Mechanisation and Irrigation Development, suspended importation of all animal products regardless of the country of origin and quality.

The products included:

• Poultry: eggs, chicken, etc.

• Dairy: cheese, milk, yoghurt, etc.

• Meat: polonies, meat pies, tinned beef, etc.

•Read More...

2010 Mid Term Fiscal Policy Review
14 July 2010

The Minister of Finance, Hon. T. Biti presented his 2010 Mid-Term Fiscal Policy Statement today, 14 July 2010.

For a copy of the Statement, please visit our downloads section under "Budget Statements".

...

Mineral exports rake in US$403m
28 June 2010

Business Reporter

ZIMBABWE exported a total of 426 359 tonnes of various minerals valued at about US$403 million in the first five months to May, up from US$191,9 million realised during the same period last year, official figures show.

Data released by the Minerals Marketing Corporation of Zimbabwe shows that a total of 412 086 carats of diamonds valued at US$23,45 million were sold between January and May.

State-owned MMCZ is responsible for marketing all minerals except gold and silver.

Diamond sales from Chiadzwa, where two companies, Mbada Holdings and Canadile Diamonds, are operating, which had been pl...

Africa needs to spend more money for food security
23 June 2010

“Africa is now facing the same type of long-term food deficit problem that India faced in the early 1960s”, says a paper by the International Food Policy Research Institute (Ifpri), a US-based think-tank.

In the early 1960s India faced a major food crisis.

African countries are not spending enough on agriculture and the overall productivity of the continent has dropped since the mid-1980s, said the paper which looked at trends in public spending on agriculture in Africa.

“Since the 1960s, Africa has lost ground in the global marketplace. Its share of total world agricultural exports fell from 6% in the 1970s to 2...

Hands off RBZ assets.
20 June 2010

Sunday Mail Reporter.

THE Government has moved in to stop the auctioning of assets belonging to the Reserve Bank of Zimbabwe (RBZ) in a bid to prevent “vultures” from weakening the bank’s capacity to discharge its mandate.

Finance Minister Mr Tendai Biti told The Sunday Mail yesterday that Cabinet took the decision last week after it emerged that certain individuals and companies were out to strip the institution.

He said the Government’s decision-making organ will soon introduce the necessary supporting legal instruments.

“We agreed to stop the attachment and auctioning of RBZ properties with immediate eff...

May 2010 Consumer Prices
16 June 2010

The Zimbabwe Statistical Agency (ZIMSTAT) has just released the inflation figures for the month of May 2010.

According to ZIMSTAT, the year on year inflation rate (annual percentage change) stood at 6.1 percent whilst the month on month inflation rate (monthly percentage change) for May 2010 was 0.3 percent.

This increase was mainly driven by beer which contributed most to the 0.3 percent increase in May inflation.

As the Ministry of Finance, we are thoroughly concerned and disturbed by the continued increase in prices of goods and services as Zimbabwe had for a l...

Govt exceeds revenue target
15 June 2010

By Bright Madera

GOVERNMENT has managed to live within its means in the first quarter of the year, collecting US$411,5 million and spending the bulk of the money on recurrent expenditure and only US$20,6 on capital development projects, statistics from the Ministry of Finance have shown.

Although the Government exceeded its revenue collection target of US$317,7 million it missed its provision by US$46 million as expenditure totalled US$386,4 million.

This represents 82,9 percent of total expenditure going towards recurrent expenditure, with the balance of US$20.6 million going to capital development projects.

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