President assents to Appropriation Act

PRESIDENT Mugabe has assented to the Appropriation Act 2017 that will see the operationalisation of the $3,426 billion National Budget for this year.

Finance and Economic Development Minister Patrick Chinamasa presented the budget proposals last year.

The consolidated Government revenue expenditure was announced in the Government Gazette published on March 23.

Part of the Act reads: “The Consolidated Revenue Fund is hereby charged with such sums of money as required for the service of Zimbabwe during the year ending on 31st December, 2017, not exceeding in aggregate the sum of three billion four hundred and twenty six million two hundred and eighty nine thousand United States dollars.

“Subject to section 17 (5) of the Public Finance Management Act (Chapter 22:19) (No. 11 of 2009), the moneys appropriated shall be applied to the services detailed in the Schedule and more particularly specified in Estimates of Expenditure.”

The biggest beneficiary of the consolidated revenue expenditure is the Ministry of Primary and Secondary Education that has a total allocation of $803, 771, 000 followed by Home Affairs with an allocation of $364, 308, 000.

Significant allocation goes to the Ministry of Agriculture, Mechanisation and Irrigation Development which has a budget of $292, 696, 000, Ministry of Health and Child Care which was allocated $281, 976, 000 and Ministry of Finance and Economic Development which got $206, 374, 000.

Public Service, Labour and Social Welfare got $193, 789, 000, while the Office of the President and Cabinet was allocated $175, 643, 000.