Zimbabwe's finance ministry earned more money than expected during the final three months of 2024. Officials spent extra cash helping people affected when drought hit the country. The El Niño weather pattern caused the dry conditions that hurt farming communities.
Government workers collected ZWG10.75 billion during September when they only planned to make ZWG7.95 billion. Income taxes brought most of the extra money into government accounts. Financial transaction taxes also jumped much higher than anyone predicted.
October brought even bigger surprises as revenue reached ZWG17.05 billion against a ZWG10.99 billion target. The local currency lost value against foreign money which made revenue numbers look much larger. Spending costs also grew because many expenses were priced using foreign currency.
November and December continued the same pattern with revenue beating targets. The government collected ZWG17.98 billion and ZWG20.42 billion respectively during these months. Officials had to spend more money on employee salaries, grants to citizens and social benefits programs. Currency problems made budget planning very difficult throughout the period.
Government workers collected ZWG10.75 billion during September when they only planned to make ZWG7.95 billion. Income taxes brought most of the extra money into government accounts. Financial transaction taxes also jumped much higher than anyone predicted.
October brought even bigger surprises as revenue reached ZWG17.05 billion against a ZWG10.99 billion target. The local currency lost value against foreign money which made revenue numbers look much larger. Spending costs also grew because many expenses were priced using foreign currency.
November and December continued the same pattern with revenue beating targets. The government collected ZWG17.98 billion and ZWG20.42 billion respectively during these months. Officials had to spend more money on employee salaries, grants to citizens and social benefits programs. Currency problems made budget planning very difficult throughout the period.
