Business / Economy
Zimbabwe surpasses revenue target
12 Mar 2013 at 05:43hrs | Views
Zimbabwe surpassed its revenue target for February this year, after collecting $278 million against a target of $250 million as government seeks to consolidate efforts to raise funds for capital and recurrent expenditure, Finance Minister Tendai Biti has said.
This was an improvement on the January collections as Treasury missed the target of about $273.7 million by $19.2 million, Biti said in a State of the Economy address yesterday.
"Of the total collections, tax revenue was about $266.3 million, against a target of $234.9 million while non-tax revenue was $10.4 million against a target of $14.7 million," he said.
But the economy remained "depressed" as a result of funding challenges for both the private and public sectors.
Total expenditure amounted to $329 million against a target of $249 million.
Employment costs gobbled $236.3 million, $50.1 million was spent on operations, $35.3 million on capital projects and $8 million for Zimra grant.
This was an improvement on the January collections as Treasury missed the target of about $273.7 million by $19.2 million, Biti said in a State of the Economy address yesterday.
"Of the total collections, tax revenue was about $266.3 million, against a target of $234.9 million while non-tax revenue was $10.4 million against a target of $14.7 million," he said.
Total expenditure amounted to $329 million against a target of $249 million.
Employment costs gobbled $236.3 million, $50.1 million was spent on operations, $35.3 million on capital projects and $8 million for Zimra grant.
Source - TH
