Matambo tightens control on resources usage
Wednesday, February 08, 2017
Delivering the 2017/18 Budget Speech on Monday, Finance and Economic Development minister, Kenneth Matambo expressed the need for the government to reduce wastage.
“Government will tighten controls by prohibiting, among others, awarding of tenders or contracts without proof of availability of funds,” Matambo said.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...