By ETimes
Government spending rose 15,2 percent above the first quarter of 2023 to $1,1 trillion with employment costs claiming the lion’s share, according to data from the ministry of finance.
Compensation of employees was above its quarterly target of $305,66 billion by 6 percent.
“Preliminary expenditures during the period under review stood at ZWL$1.1 trillion, representing 15,2 percent expenditure above the quarterly target of $936 billion, mainly on account of over expenditures on non-financial and financial assets,” treasury quarterly bulletin covering January to March 2023 reads.
For expenditures, the government set the target at $4,2 trillion, up 98 percent from the projected final outturn of the current fiscal year – Harare