Lockdown knocks Government purse

Business Top Stories Zimbabwe

Takudzwa Chihambakwe

Zimbabwe’s Ministry of Finance permanent secretary, George Guvamatanga has revealed that revenue inflows into government coffers dipped during the lock-down period as a result of reduced traffic at ports of entry.

Guvamatanga said this dip will however, not stop Government from carrying out its mandate. He was responding to questions from participants during belated International Customs Day commemorations recently.

“Once you have a lockdown it means that the level of business activity is impacted. So it means you will not be able to collect what you would have projected,” said Guvamatanga.

“However, since we have experts in the ministry, we always stress test our revenues and expenditures and also keep some reserves.

“The way we are managing the fiscus now sees to it that we have some reserves and wherever there are shortfalls we take from the reserves and ensure that the economy continues to operate well,” he said.