Innocent Sibonginkosi Ncube<\/p>\n\n\n\n
<\/p>\n\n\n\n
Zimbabwe\u2019s Treasury has announced plans to review budget allocations for 2025 to accommodate requests from government ministries in light of current economic conditions.<\/p>\n\n\n\n
As the National Pre-budget Seminar concluded on Saturday in Bulawayo, Professor Mthuli Ncube, the Minister of Finance, Economic Development, and Investment Promotion, revealed that the proposals submitted by various ministries exceed ZiG$700 billion, significantly surpassing the budget ceiling of ZiG$140 billion outlined in the second budget call circular.<\/p>\n\n\n\n
\u201cThe total bids for the 2025 National Budget are over ZiG700 billion against the budget envelope shared through the second budget call circular with a ceiling of ZiG140 billion. That is five times the ceiling of 18% of GDP,\u201d Professor Ncube explained.<\/p>\n\n\n\n
He added,<\/p>\n\n\n\n
\u201cThe second Budget Call Circular was issued before the depreciation of the domestic currency. Therefore, we are updating the fiscal framework to take into account the new changes which will allow an upward review of the ceiling.\u201d<\/p>\n\n\n\n
Advocate Jacob Mudenda, Speaker of the National Assembly, advised the Minister to develop a formula that prevents duplication of projects across ministries, suggesting that collaboration could enhance efficiency. \u201cI think you have to exercise a firm hand in the formulation of the National Budget; there are some ministries that can work together on various projects,\u201d he stated.<\/p>\n\n\n\n
The National Pre-budget Seminar serves as a vital platform for shaping the country\u2019s financial landscape for the upcoming year, allowing government officials to align their priorities and resources effectively.<\/p>\n\n\n\n
Zim GBC News\u00a92024<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Innocent Sibonginkosi Ncube Zimbabwe\u2019s Treasury has announced plans to review budget allocations for 2025 to accommodate requests from government ministries in light of current economic conditions. As the National Pre-budget… <\/p>\n","protected":false},"author":1,"featured_media":6008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124,109],"tags":[],"class_list":["post-6007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-politics"],"_links":{"self":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/6007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6007"}],"version-history":[{"count":1,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/6007\/revisions"}],"predecessor-version":[{"id":6009,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/posts\/6007\/revisions\/6009"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=\/wp\/v2\/media\/6008"}],"wp:attachment":[{"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6007"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/zimgbcnews.co.zw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}