The Minister of Finance and Economic Development presented the Annual Budget Review for 2016 and the 2017 Outlook to Parliament on 20 July 2017. This is in line with provisions of the Public Finance Management Act (PFMA)1 which requires the Minister to ensure that full and transparent accounts are from time to time, and not less than annually, are submitted to Parliament indicating the current and projected state of the economy, the public resources of Zimbabwe and the fiscal policy of the Government.
This Bill will amend the Reserve Bank of Zimbabwe Act [Chapter 22:15] principally to bring the powers of the Governor of the Reserve Bank under the control of the Bank’s Board, to clarify the functions of the Bank, and to require the Bank to increase its reserves. In more detail the individual clauses of the Bill provide as follows:
This clause sets out the Bill’s short title.
Amendment 19, Sec 117
HARARE - We announce the arrival of a new addition to the SAPST family...we are excited to unveil a new baby in SAPST News a quarterly in-house newsletter circulated among our friends, partners and the good donor community to whom we are greatly indebted for the continued support that so ever strengthens our resolve to fulfil the vision of building a democratic and modern parliamentary system across Southern Africa.
If a Government Ministry or Department spends money in any financial year in excess of the amount appropriated, or for a purpose for which nothing was appropriated, the Minister of Finance is required by section 103(5) of the Constitution to cause a Bill condoning the unauthorized expenditure to be presented to Parliament within the next fourteen sitting days of Parliament after the extent of the expenditure has been established.
This Bill will amend the Finance Act [Chapter 23:04], the Income Tax Act [Chapter 23:06], the Capital Gains Tax Act [Chapter 23:06], the Value Added Tax Act [Chapter 23:12] and the Customs and Excise Act [Chapter 23:02] and other Acts. In more detail, the individual clauses of the Bill provide as follows:
The purpose of this Bill is to establish an independent office of the Comptroller and Auditor General as an office outside the Public Service, and to provide for the administration of the office and the conditions of service for its members.
The individual clauses of the Bill are explained below:
To apply a sum of money for the service of Zimbabwe during the year ending on the 31st December, 2010.
ENACTED by the President and the House of Assembly.
1 Short title
This Act may be cited as the Appropriation (2010) Act, 2009.
In this Act-
"Estimates of Expenditure" means the Estimates of Expenditure for the year ending 31st
December 2010, submitted to and passed by the House of Assembly;