Oliver Kazunga-Senior Business Reporter
ZIMBABWE’S ranking on the Global Open Budget Survey has improved by 11 positions to 41 out of 120 countries, which is testimony to the success being achieved under the economic reforms initiated by the Second Republic.
In a post-Cabinet briefing on Tuesday, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said Cabinet received and noted, with satisfaction, a report on the country’s good showing in the Global Open Budget Survey rankings, as presented by the Finance and Economic Development Minister Professor Mthuli Ncube.
She said Cabinet had also been informed that in terms of the quality of the budget, Zimbabwe ranked 14 points above the world average and well above all African countries.
“Cabinet announces, with immense pleasure, that Zimbabwe has improved by 11 positions from a ranking of 52nd to 41st out of 120 countries on the latest Global Open Budget Survey.
“The Survey measures the overall quality of the National Budget process, as well as the transparency and quality of consultations of the process,” she said.
Section 141 of the Constitution requires that Parliament facilitates public involvement in the national budget process.
In recent years, Parliament has been conducting the national budget consultations in selected parts of the country to promote transparency and accountability by gathering people’s views and aspirations on the National Budget.
It is through the national budget that the citizens, private sector, financial institutions, and the Government, among other economic agencies, interact in pursuit of national objectives and goals.
“In terms of the quality of the budget, Zimbabwe ranks 14 points above the world average and well above all African countries.
“Cabinet wishes to highlight that within Africa, Zimbabwe is now ranked 3rd after South Africa and Benin, which occupy the 1st and 2nd positions, respectively,” said Minister Mutsvangwa.
In the southern African region, Zimbabwe is now number two, behind South Africa.
“The significant improvement in the Global Open Budget Survey is testimony of the success being achieved in the country’s economic reforms under the Second Republic.
“The Government joins the people of Zimbabwe in celebrating this milestone,” she said.
Economic commentator Mr George Nhepera said the latest ranking for Zimbabwe was a step in the right direction in promoting investment into the country.
“Any improvement in independent ranking by outsiders is indeed welcome and positive in attracting international investors into our country,” he said.