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CABINET has adopted the 2023 National Budget Strategy Paper, which was presented by the Minister of Finance and Economic Development, Professor Mthuli Ncube, on Tuesday.
The Budget Strategy Paper is issued annually to guide the forthcoming budget consultations and other processes for the next fiscal year.
This is a strategic policy document that outlines the forthcoming proposed budget priorities after taking into account the macro-economic conditions in the country.
In a post-Cabinet media briefing, Acting Minister of Information, Publicity and Broadcasting Services, Dr Jenfan Muswere, said the Budget Strategy Paper was meant to improve transparency in the preparation of the national budget and forms the basis for a detailed process that culminates in the presentation and approval of the forthcoming year’s budget by Parliament.
“Indeed, as the public is aware, Zimbabwe has done well in this regard, and has improved by 11 positions from a ranking of 52nd to 41st out of 120 countries on the latest Global Open Budget Survey,” he said.
“Running under the theme ‘Accelerating Economic Transformation’, the 2023 Budget Strategy Paper will, accordingly, facilitate public, stakeholder and Parliamentary consultations and engagements on policy priorities for the 2023 National Budget, thereby enabling holistic responses to a complex global and domestic economic environment.
“Given that the year 2023 will mark the mid-point in the implementation of the National Development Strategy 1: 2021-2025 (NDS 1), the 2023 budget will allow stakeholders to review progress while giving the impetus required to attain the set objectives.”
Dr Muswere said the Budget Strategy Paper gives an overview of the fiscal policy thrust for 2023 and outlines the proposed strategic priorities. These will be drawn from the 14 thematic areas under NDS 1 while also taking into account the prevailing global and domestic environment, risks and the attendant emerging issues such as the 2023 electoral processes.
Accordingly, the minister said the proposed strategic priorities cover economic growth and macro-stability, supporting productive value chains, infrastructure, ICTs and the digital economy, youth, sport, arts and culture as well as women, gender equity and SMEs.
Other components include devolution and decentralisation, human capital development, well-being and innovation, effective institution building and governance; and image-building, engagement and re-engagement.
“Cabinet underscores that a strong economic recovery and transformation of the country is well underway, notwithstanding the Covid-19 pandemic and new shocks,” said Dr Muswere.
“The proposed policy actions in the Budget Strategy Paper, therefore, seek to accelerate and deepen this transformation in pursuit of Vision 2030, hence the strategy theme.
“Government highlights that the proposals are by no means exhaustive and Treasury welcomes further relevant inputs from stakeholders.
“This will ensure an inclusive and people-centred budget for 2023.”
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