24/11/2022
2023 Budget
24 November 2022
The government has said it is setting aside ZWL$76 billion for the remaining activities covering voter registration, voter inspection and actual election conduct, among others.
Presenting the 2023 Budget to the National Assembly today at the New Parliament Building, The Minister of Finance and Economic Developement, Hon. Prof. Mthuli Ncube said the priority areas for 2023 are Economic Growth and Stability Macroeconomic stability which will help ensuring a conducive macroeconomic environment.
The 2023 Budget will support improvement in the mining sector by strengthening the legal framework, promote mining activities and value addition in an environmentally sustainable manner and it is expected to grow by 10. 4 % by 2023.
The 2023 Budget will also prioritise the completion of Hwange 7 & 8 Expansion Project now at 95% completion, which will bring an additional 600 MW to the national grid.
ZWL$ 177.4 billion is being channeled towards rehabilitation and upgrading of airports &railway system.
ZWL$30.4 billion has been set towards the water and sanitation to scale up implementation of water and sanitation programmes and projects, targeting dam construction, conveyancing infrastructure and borehole rehabilitation.
ZWL$777 billion is being allocated to both primary and secondary, as well as higher and tertiary education. The Budget has set aside 11% of total expenditures towards the heath sector.
The country’s total Public and Publicly Guaranteed (PPG) debt is estimated at ZWL$2.2 trillion for domestic debt and US$14 billion for external debt as at end September 2022 whilst Total exports have increased by 32,5 % and imports by 18.5 %.
Ncube projected that the month on month inflation will go down by 3% in 2023.
Manufacturing utilisation capacity stands at 66% optimising on the Value of natural resources.
The budget is anchored on the detects of the National Development Strategy 1.
