Masvingo City Council has unveiled its USD$23.6 million 2023 budget. The budget converted to local currency is amounting to ZW$14.9 Billion.
Addressing the media after the presentation of the budget, Deputy Mayor Wellington Mahwende said the budget is pegged in foreign currency but stressed that residents will be settling their bills in local currency.
“The total budget is US$ 23.6 million of which US$ 17 million is expected to be generated internally while US$ 6 million is expected to be funded from other sources such as intergovernmental fiscal transfers, Zimbabwe National Road Agency (ZINARA) grants and external loans.
“The budget has been prepared in United States Dollars consistent with the presentation by the Minister of Finance and Economic Development on the expected subsistence of the multi-currency system until 2025. However, charges to residents and clients will be made at the prevailing exchange rate on the date of payment,” said Mahwende.
Deputy Mayor Mahwende also highlighted that the local authority will embark on different projects the coming year.
“The major projects presented in the 2023 budget are water augmentation, landfill management and road marking equipment, Rujeko Secondary School, public lighting rehabilitation, maternity ward at Runyararo clinic, Mucheke stadium repairs, road construction and re-sealing.