The latest Treasury bulletin shows that Government expenditure for the fourth quarter amounted to $1,432 billion against a target of $1,006 billion, resulting in an expenditure overrun of 42,3 percent.
In the fourth quarter, recurrent expenditure was $1,025 billion, while capital expenditure and net lending amounted to $407,2 million. Much of the recurrent expenditure came from employment costs, taking up 66 percent of total expenditure and about 92 percent of revenue collected in the period. Revenue amounting to $902,45 million was collected in the fourth quarter compared to $907,35 million in the third quarter. Compared to the fourth quarter of 2015, revenue was down by 18,2 percent, its lowest since 2013.
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For the whole year 2016, expenditure amounted to $4,923 billion, made up of recurrent expenditure of $3,956 billion and $967,5 million in capital expenses and net lending. However, revenue collections of $3,502 billion were realised in 2016 against an annual target of $3,850 billion, translating into a negative variance of 9 percent. The 2016 revenue was the equivalent of 24,7 percent of GDP, down from 26,3 percent of GDP collected during the previous year.
The Republic of Zimbabwe is a country located in the Southern Africa region. Its capital city is Harare and the country has 10 Zimbabwe Provinces. Zimbabwe is 390,580 sq km and is bordered on all sides by other countries (Zambia in the north, South Africa... Read More About Zimbabwe