Advertisement
AfricaEconomyZimbabwe

Covid-19 expose weaknesses in Zim public finance management system

By Almot Maqolo

Spread the love

The Zimbabwe Coalition on Debt and Development (ZIMCODD) says the Covid-19 pandemic has exposed the weaknesses inherent in the Zimbabwean public finance management system. 

The government since the first national lockdown in March 2020 had promised to cushion and support vulnerable households amidst the hardships induced by Covid-19. 

“The government must therefore expeditiously fulfil and honor its promises as economic vulnerability among informal sector traders, the poor, women and youth have increased due to the Covid-19 lockdown,” ZIMCODD stated in a statement.

“We therefore call upon the government, in particular the Ministry of Finance and Economic Development working together with the Ministry Public Service, Labour and Social Welfare, to effectively and prudently manage public finances and pay the poor, informal sector traders and small businesses sufficient amounts of money for them to sustain their livelihoods which have been affected by the Covid-19 national lockdown.”

ZIMCODD said: “The surplus that the ministry of Finance and Economic development has declared to the public must now be used to support vulnerable groups and more specifically informal sector traders who despite constituting a 70% share of Zimbabwe’s GDP are closed and without any government support.”

It said taxes must be used to propel equitable human development anchored on the principles of progressive taxation. “Progressive taxation improves the poor’s purchasing power and stimulates the economy.”


Spread the love
Advertisement
Show More
Back to top button
DE HONEY MONTESSORI SCHOOL
Close
Close
  • Media Bypass allows you to access and report news from all over the world as it happens. This is achieved by bringing together a big team of participants as both Journalists and Readers.