zimra logo  and cash 05-09-10.jpgThe government has raked in US$327 million from revenue collections during the first two months of the second half for this year, as measures to consolidate economic gains are being intensified.

 

Latest statistics from the Ministry of Finance show that government collected US$183,1 million in July and US$144,4 million in August this year, amid expectations that the economy is on track to achieve the projected revenue collections of at least US$1,7 billion, after raking in US$900 million between January and June this year.

 
Economist Willie Ganda says inspite of an improvement in revenue collections, the government should craft policies to improve economic growth through maintaining a cash budgeting system.

 

“What we need right now is a policy that can steer the economy out of the woods and this requires a comprehensive system to unlock growth,” said Mr Ganda.

 

While the government is on course to achieve the projected revenue collections, stakeholders are concerned on whether the financial inflows are adequate to sustain expenditure, given the fact that only US$207 million dollars has been realised from the vote of credit against a targeted US$810 million.

This comes amid calls for Zimbabweans to look inside the country for economic growth instead of expecting funds from the international donor community.

 

“These donors are not the right institutions to provide the basic elements for economic development we need tangible policies that can work for economic growth in the shortly to long term,” Mr Ganda added.

Economic observers say government should devote adequate financial resources to strategic sectors of the economy such as agriculture, mining, manufacturing and tourism to increase productivity and create jobs.

The economy is expected to register a 5,4% growth this year on the back of  an improved output that has stabilised prices for goods and services.