Government slashes 2015 expenditure budget

Government has slashed its 2015 expenditure budget from the $4,1 billion announced by Finance minister Patrick Chinamasa late last year to $3,5 billion.

This was announced in a recent Government Gazette.

The consolidated revenue fund is hereby charged with such sums of money as may be required for the service of Zimbabwe during the year ending on the 31st December 2015, not exceeding in aggregate the sum three billion five hundred and fifty one million four hundred and sixty nine thousand United States Dollars, part of the gazette reads.

Chinamasa presented a $4,1 billion National Budget based on Gross Domestic Product(GDP) growth projections of 3,2% that were billed to translate into 28,1% of nominal GDP of $14,6 billion.

Then he said he was targeting expenditures of $4,1 billion against a deficit of $15 million. Recurrent expenditures for 2015 are expected to dominate overall expenditures at 92% leaving 8% for capital development programmes.

Employment costs are expected to continue as government's main challenge as it struggles to pay its bloated civil service.

Chinamasa has pledged to carry out a skills audit to ensure government has employees with requisite skills.