Staff Reporter
The Minister of Finance and Economic Development, Professor Mthuli Ncube has today launched the International Public Sector Accounting Standards Zimbabwe Financial Reporting Manual (IPSAS ZFRM) and the Public Sector Professional Accountancy of Zimbabwe Training Office.
Speaking during the launch in Harare, Minister Ncube said that Government wanted to foster an environment for sustainable reporting through various economic reforms in line with vision 2030 aspirations.
The Minister added, “Implementing the National Development Strategy Phase 1 (NDS1) demands effective public financial management that is permeated with transparency and accountability measures, to achieve the national vision of a transformed prosperous and empowered upper middle-income economy by 2030.”
According to Minister Ncube, NDS1 recognises the role of timely financial reporting in the transformation of the economy towards Vision 2030 and this calls for Government to transform Public Finance Management (PFM).
“A strong accountancy profession is indispensable to our country’s economic development. The usefulness of a sound financial accounting and reporting system in socio-economic development cannot be over emphasised with transparency and accountability being at the heart of our economic recovery strategy as we endeavour to establish economic confidence,” said Minister Ncube.
The Minister revealed that Government was putting together initiatives and programmes aimed at transforming the economy through prioritising fiscal consolidation, economic stabilisation, and stimulation of growth and creation of employment.
The Minister expounded that the new financial initiates being implemented by the Government would positively transform the economy.
Minister Ncube added that the Transitional Stabilisation Programme (TSP) had laid a massive economic reconstruction platform and stabilised the economy that had been fluid for a long time.
Meanwhile, Minister Ncube claimed that most of the TSP objectives had been delivered which include, economic stabilisation, inflation rate reduction and foreign currency exchange rate stabilisation.
