Zimbabwe continues to improve its global ranking in terms of openness in budgetary processes and was ranked 30 out of 125 countries in 2023, up from 41, a citizens' Budget strategy paper tabled by Finance, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, shows.
He presented the strategy paper during his 2024 Mid-Term Budget Review last Thursday.
The survey is carried out by the International Budget Partnership, an organisation that advocates transparency in the formulation and implementation of national budgets.
"The 2023 survey is the sixth round for Zimbabwe to participate in the Open Budget Survey and the country has been steadily improving. Zimbabwe continues to participate in the survey, and it has been improving its ranking since 2019," said Prof Ncube.
In Sub-Saharan Africa, Zimbabwe remained third ranked, after South Africa and Benin.
"Zimbabwe jumped from the 41st world rank out of 120 countries in 2021, to 30th position out of 125 countries in 2023," he said.
"Government's commitment towards strengthening stakeholder input in the budgetary process has seen the executive, and oversight institutions, upscaling public engagement and participation in the formulation of decisions on how public resources are mobilised and used.
"In recognition of the progress made by Government and stakeholders in this process, the International Budget Partnership awarded Zimbabwe an Open Budget Index score of 63 out of 100 in the 2023 Open Budget Survey.
"This is an improvement from the score of 59 recorded in 2021, and 18 points above the world average of 45. As the world's only comparative assessment tool of its kind, improvement in the country's scoring indicates significant progress in improving public finance systems and processes, which are transparent, participatory and accountable."
The 2025 Budget Strategy Paper outlines the fiscal policy direction of Government to stakeholders which includes citizens, private sector, labour and development partners.
It is meant to enhance understanding on the broader macro-fiscal issues guiding the budgeting process and underpinning the prioritisation of public resources and fiscal policy and is under the theme: "Building resilience for sustained economic transformation."
