Latest news with #GovernmentofZimbabwe
Zawya
26-02-2025
- Business
- Zawya
Anchoring Macroeconomic Stability Through Fiscal Policy in Zimbabwe
The Government of Zimbabwe recently embarked upon an important set of reforms aimed to durably restore Zimbabwe's macroeconomic stability. To secure these reforms, it is key for the Treasury to identify ways to strengthen its fiscal policy to help move Zimbabwe towards a sustainable medium-term fiscal pathway, according to the new Public Finance Review (PFR) released by the World Bank today. The PFR titled ' Anchoring Macroeconomic Stability through Fiscal Policy ' considers the performance of Zimbabwe's public finances between 2019 and 2023. In addition, it supports the Government of Zimbabwe in its fiscal consolidation efforts by identifying policy options to improve expenditure and revenue mobilization to create fiscal space, improve efficiency, and strengthen equity considerations. This can help move Zimbabwe towards a more sustainable medium-term fiscal pathway, stabilize the macroeconomic environment, and support sustainable economic growth and job creation. "The PFR emphasizes the World Bank's commitment to providing timely and responsive support to the Government of Zimbabwe and is a testament to our strong and ongoing partnership. This comprehensive analysis of public finance will guide our efforts to assist the government in improving domestic revenue mobilization, enhancing efficiency, and ensuring pro-poor outcomes," said Eneida Fernandes, World Bank Country Manager for Zimbabwe. The PFR recommends several measures to create fiscal space and return Zimbabwe's fiscal accounts to a prudent trajectory. The report highlights that stabilizing prices and eliminating exchange rate distortions can significantly and swiftly boost government revenue. The World Bank's analysis indicates that Zimbabwe's treasury lost over $4.5 billion between 2020 and 2023 due to monetary distortions. Enhancing price stability could help recover inflation-related tax losses promptly. Potential reforms to increase tax revenue efficiently and equitably include streamlining corporate tax incentives, strengthening mining, property and wealth taxation, aligning health excise taxes in line with international standards, and improving tax administration using digital technologies. Improving the efficiency of public spending is essential for supporting fiscal consolidation and achieving long-term sustainable and inclusive growth. There is potential to improve the government's allocative efficiency to improve value-for-money in areas such as health care and capital investments. Improvements in procurement systems, including the use of e-Procurement, also present significant opportunities for efficiency savings. Efficiency in public services administration is also key, as the Government of Zimbabwe's jobs evaluation report suggests there are opportunities to streamline the civil service. The progressivity of expenditure policy can also be improved through more and better targeted spending on social protection. The operationalization of a national 'social registry' could help improve targeting of Zimbabwe's current social protection systems and help improve climate resilience. The PFR shows that fiscal policy can be a critical anchor for macroeconomic stability that can ensure a credible and efficient national budget and assist a stable and competitive currency. Jointly, this would lead to higher growth, major poverty reduction, and a major step toward achieving Zimbabwe's development objectives. Distributed by APO Group on behalf of The World Bank Group.
Zawya
19-02-2025
- General
- Zawya
Food and Agriculture Organization of the United Nations (FAO) Strengthening Zimbabwe's Food Safety Standards through National Codex Technical Committee Training
From 3 to 7 February 2025, the Food and Agriculture Organization of the United Nations (FAO) and the Government of Zimbabwe conducted a training session for 20 members of the National Codex technical committee. The training focused on knowledge dissemination, capacity building, and the adoption of Codex standards. 'The training is part of the Codex Trust Fund 2 project, which seeks to rejuvenate Codex Alimentarius activities in Zimbabwe by expanding knowledge and understanding of Codex at national level among key policy makers and influential stakeholders,' explained James Mugombi, the Codex Trust Fund 2 focal point in Zimbabwe. Patrice Talla, the FAO Subregional Coordinator for Southern Africa and FAO Representative in Zimbabwe, added, 'By training technical officers from both the government and private sector, FAO is enhancing Zimbabwe's national capacity to develop food standards and regulations based on Codex. This will increase the uptake and use of Codex standards, guidelines, and codes of practice in the country.' The four-day workshop was attended by participants from both the public and private sectors. It focused on the National Codex Technical Committee on Fresh Fruits and Vegetables (CCFFV) and the National Codex Technical Committee on processed food items, food additives, and fats and oils. Fredy Chinyavanhu, the Government of Zimbabwe Codex Contact Point (CCP), emphasized the importance of the training in enhancing understanding of Codex food safety standards and guidelines. 'The overall objective of the Codex technical committee's meetings is to bring together technical experts from the private and public sectors to build their capacities for effective preparation prior to participating in Priority Codex committee meetings,' he said. 'The government can leverage this network to facilitate ongoing collaboration between regulators, industry, and other key players, promoting a unified approach to implementing Codex standards.' 'In previous Codex sessions, Zimbabwe's participation in international food standards setting was weak due to limited involvement by national stakeholders. This training will ensure that Zimbabwean stakeholders are aware of and know how to participate effectively in international food standards setting,' added Claid Mujaju, chairperson of the National Codex Technical Committee on Fresh Fruits and Vegetables. Mutsa Chatyoka, a Farm Feeds and Remedies Regulations Officer, highlighted the positive impact of the training on food safety and quality in Zimbabwe. 'This training has improved our understanding and application of Codex standards, which will enhance the safety and quality of food products,' she said. 'Regulators will gain knowledge on standards to be enforced on food businesses and products.' Fredy Chinyavanhu also mentioned, 'The training has helped us gather views from the trained stakeholders and others. We will consolidate these views as a national Codex committee to develop true Zimbabwean positions on agenda issues for upcoming global Codex meetings.' Government's commitment to continuity The government is committed to prioritizing budgetary allocations for food safety monitoring and enforcement work. Allocating sufficient financial resources is crucial to implementing the Codex-aligned systems and maintaining effective oversight. 'The goal is to include Codex work in future budgets to ensure continuity of programs beyond the FAO Codex 2 project,' said Josephine Manda, Deputy Director at Ministry of Industry and Commerce and Chairperson to the National Codex Technical Committee on processed food items, food additives and fats and oils. The country's Codex Contact Point (CCP) emphasized that material, financial, and human resources will be allocated to ensure consumer safety and health. "We will continue to lobby for prioritization of budgetary allocation, as well as material, financial and human resources, to food safety and quality monitoring and enforcement. This is essential for ensuring consumer safety and health as well as facilitation of international food trade'. Both public and private food testing laboratories will be mobilized to contribute data for science-based evidence, supporting the country's positions to the Codex Alimentarius standards setting processes. 'To sustain the momentum from the initial training, we commit to providing regular, targeted training programs. This will ensure Codex knowledge and skills are continuously updated and disseminated across relevant government departments and the private sector,' said the country's Codex Contact Point (CCP). Stakeholder perspectives on training Josephine Manda, a Senior Biosafety Officer at National Biotechnology Authority of Zimbabwe, emphasized the importance of the training., "The training was crucial for me as it enhanced my knowledge of Codex systems and their technical aspects, enabling me to participate meaningfully at Codex workshops and events," she said. Mutsa Chatyoka expressed her intention to apply the knowledge and skills acquired during the training to enhance her participation in national food safety standard-setting processes. "I aim to ensure alignment with Codex Alimentarius Commission guidelines and contribute to the development of national policies and regulations related to food additives," she noted. By strengthening the capacity of technical experts and aligning national standards with Codex guidelines, the Codex Trust Fund 2 project aims to rejuvenate and enhance food safety and quality in Zimbabwe, ultimately benefiting consumers and facilitating international trade. 'The government can use the enhanced understanding of Codex standards and guidelines gained from the training to update and align national food safety regulations and policies. This will ensure Zimbabwe's food safety framework is harmonized with international best practices,' Patrice Talla stated. Distributed by APO Group on behalf of FAO Regional Office for Africa.
