adminIvan Zhakata
Herald Correspondent
Public finance management is the backbone of any nation’s development and remains central to the realisation of both the global agenda and the national aspirations, more particularly Vision 2030 which envisions an inclusive upper middle-income society for all Zimbabweans, Southern African Parliamentary Support Trust (SAPST) executive director Mr Israel Chilimanzi has said.
Speaking at the inaugural fiscal insights forum in Harare, Mr Chilimanzi said good governance, inclusive of national budgets, fiscal discipline, transparency and accountability, in addition to the effective and efficient use of public resources, remained critical for ensuring fiscal policy sustainability, economic growth and development.
Stakeholders needed to appreciate the changing macroeconomic context.
“This includes, but is not limited to climate change, unstable commodity prices, and a burgeoning youth demographic dividend which will require intergenerational planning, thereby amplifying the need for sustainable solutions towards public debt,” Mr Chilimanzi said.
“While the thrust towards domestic resource mobilisation has gained impetus over the past decade, stakeholders must appreciate that urgency is needed in value-adding our commodities to leverage on new international trade developments, including the African Continental Free Trade Agreement, broadening the tax base in a progressive (rather than regressive) structure and formalising the informal sector.
“All of this must be underpinned by consistent macroeconomic policies, including a stable currency. The adoption of a gold backed ZiG and the high-level policy dialogue towards arrears clearance, debt relief and restructuring provide the necessary signals towards the willingness to anchor the economy in a new trajectory.
“However, our ability to deliver essential services, invest in infrastructure and create a conductive environment remain critical for the well-being of citizens and the development of our nation.”
Mr Chilimanzi said this required deliberate effort to direct resources toward critical sectors such as health, education and social protection which were essential for improving the quality of life of citizens.
Zimbabwe Council of Churches president Bishop Ignatious Makumbe said national vision documents call for good governance and public finance management as pillars to attain national development strategies and the United Nations Sustainable Development Goals.
“As a church, our call is to improve transparency and accountability by leaders and public officials, being good stewards of public and national resources,” he said.
“Our view on public finance management reminds us of the role of finance in God’s purposes for humanity. God created everything for his glory and honour. As the church, our vision is that of holistic salvation, and all our efforts are directed towards ensuring that all the people of Zimbabwe enjoy abundant life as promised by Jesus Christ in John 10:10. We are also pursuing attainment of economic and tax justice.”
Bishop Makumbe said the church aims to pursue dialogue towards addressing the systemic inequalities and financial injustices plaguing Zimbabwe.
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