Budget From ZimDollar To ZiG

Zimbabwe’s 2024 national budget, initially formulated using the now defunct yet another version of the Zimbabwe dollar as legal tender, has been converted from ZW$58.2 trillion to ZiG87.9 billion.

The current ZiG exchange rate to the United States dollar is US$1: ZiG13.8. Presenting his mid-term budget and economic review speech today, Finance minister Mthuli Ncube said the reconfiguration has been done throughout the financial planning lines and votes.

“Resultantly, total revenue collections were estimated at Z$53.9 trillion (18.3% of GDP) and expenditures of Z$58.2 trillion with a financing gap of Z$4.3 trillion (1.5% of GDP),” Ncube said.

“The introduction of the ZiG as legal tender on 5 April 2024 has necessitated reconfiguration of the 2024 Approved National Budget to reflect the change of our currency.

“Budget developments during the review period and outlook to year end are, therefore, being presented in ZiG. “In this regard, the approved expenditure for the 2024 budget of Z$58.2 trillion, converted to ZiG results in a budget envelope of ZiG87.9 billion.”

#BudgetFromZimDollarToZiG
Zimbabwe's 2024 national budget, initially formulated using the now defunct yet another version of the Zimbabwe dollar as legal tender, has been converted from ZW$58.2 trillion to ZiG87.9 billion.
The current ZiG exchange rate to the United States dollar… pic.twitter.com/0l0whxQuBi

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