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Government blows unauthorised USD$ 10 billion

by Mandla Ndlovu
10 Dec 2019 at 12:32hrs | Views
The Minister of Finance Mthuli Ncube is seeking parliament to endorse the unauthorised use of money amounting to about ten billion United States Dollars.

In a publicised Financial adjustment bill government said:

If a Government Ministry or Department spends money in any financial year in excess of the amount appropriated, or fora purpose for which nothing was appropriated, the Minister of Finance is required in terms of section 307 of the Constitution to cause a Bill condoning the unauthorised expenditure to be introduced in the National Assembly seeking condonation of the unauthorised expenditure, no later than sixty days after the extent of the unauthorised expenditure has been established.

In line with the above, we seek condonation for unauthorised expenditure incurred by Line Ministries of US$25 305,741 ( Twenty-five million three hundred and five thousand and seven hundred and forty-one dollars) for year ended 2015, US$1,530,890.050 (one billion five hundred and thirty million cight hundred and ninety thousand and fifty dollars) for year ended 2016, US$4,562,064,123 (four billion five hundred and sixty-two million and sixty four thousand one hundred and twenty-three dollars) for year ended 2017, US$3 560,343,130 (three billion five hundred and sixty million three hundred and forty-three thousand one hundred and thirty dollars) for year ended 2018.



Source - Byo24News

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