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Mthuli Ncube wants MPs to forgive $107 BILLION govt overspent without approval

Mthuli Ncube, black market rate businesses Min of Finance

The Minister for Finance, Mthuli Ncube had, according to the Financial Adjustments Bill 2022, overspent by ZWL$100,690,788,418 in 2020 and ZWL$6,783,930,028 in 2019. Furthermore, the Ministry of Finance is now seeking that this unauthorised spending is pardoned by Parliamentarians.

The fact that these figures are coming out now is in direct violation of section 307 of the Constitution which defines that the Minister of Finance, Mthuli Ncube must seek condonation not later than 60 days after the extent of the unauthorised spending has been established. Furthermore, what this money was spent on was not disclosed.

Unauthorised expenditure

1. If it is found that more money has been expended on a purpose than was appropriated to it in terms of this Part, or that money has been expended on a purpose for which no money was appropriated under this Part, the Minister responsible for nance must introduce a Bill into the National Assembly seeking condonation of the unauthorised expenditure.

2. The Bill referred to in subsection (1) must be introduced into the National Assembly without delay and in any event no later than sixty days after the extent of the unauthorised expenditure has been established.

The Zimbabwean Constitution

The document reads as follows:

FINANCIAL ADJUSTMENTS BILL, 2022


MEMORANDUM


If a Government Ministry or Department spends money in any financial year in excess of the amount appropriated, or for a purpose for which nothing was appropriated, the Minister of Finance and Economic Development is required in terms of section 307 of the Constitution to cause a Bill condoning the unauthorised expenditure to be introduced in the National Assembly seeking condonation of the unauthorised expenditure, no later than sixty days after the extent of the unauthorised expenditure has been established.


In line with the above, we seek condonation for unauthorised expenditure incurred by the Ministry of Finance and Economic Development of—

(i) ZWL$100 690 788 418 (one hundred billion six hundred and ninety million seven hundred and eighty-eight thousand four hundred and eighteen Zimbabwe dollars) for year ended 2020;

(ii) ZWL$6 783 930 028) (six billion seven hundred and eighty-three million nine hundred and thirty thousand and twenty-eight Zimbabwe dollars) for year ended 2019.

To condone unauthorised expenditure incurred by the Ministry of Finance and Economic Development for the year 2020 and 2019.

ENACTED by the Parliament and the President of Zimbabwe.

1 Short title

‘Fills Act may be cited as the Financial Adjustment Act, 2022.

2 Condonation of unauthorised expenditure for year ended 2020

The incurring of the following expenditure in excess of that which was appropriated to terms of Part 3 of Chapter 17 of the Constitution or for which no money was to appropriated under that Part, is condoned—

the Ministry of Finance and Economic Development during the financial year ended on the 31st December, 2020, in an amount of ZWL$100 690 788 418 (one hundred billion six hundred and ninety million seven hundred and eighty-eight thousand four hundred and eighteen Zimbabwe dollars) for year ended 2020.


3 Condonation of unauthorised expenditure for year ended 2019 The incurring of the following expenditure in excess of that which was appropriated in terms of Part 3 of Chapter 17 of the Constitution or for which no money was appropriated under that Part, is condoned—

the Ministry of Finance and Economic Development during the financial year ended ao on the 31st December, 2019, in an amount of ZWL$6 783 930 028 (six billion seven hundred and eighty-three million nine hundred and thirty thousand and twenty-eight Zimbabwe dollars) for year ended 2019.

via NewsHawks


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11 thoughts on “Mthuli Ncube wants MPs to forgive $107 BILLION govt overspent without approval

  1. The minister overspent by $107 billion !!!!. Yet we were being told of a surplus, were was the surplus coming from ???If it was a normal country someone would be out of work right now or in jail.

  2. The minister overspent by $107 billion !!!!. Yet we were being told of a surplus, were was the surplus coming from ???If it was a normal country someone would be out of work right now or in jail.

  3. What use is a budget in Zim dollars when prices are rising every day. So how are decisions on what the new budget ought to be at each point in time. How does one tell if they are overspending?

  4. Bro 1 billion Zim dollars 😁😁. You almost gave me a heart attack coz l thought 1 billion US dollars 🤣

    1. 100 Billion ZWL. In 2020 the exchange was well below 100, so its actually more than 1 Billion USD.

  5. It just shows they can’t tell difference between surplus and deficit. No wonder why our economy is in shambles. Its being run by a group of clowns

  6. This is the time for people to pay attention. If their elected MP votes for condonation, then they should be explain themselves. So far the justifications I have heard are fallacies and honestly I am not impressed.

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