Government revenue
In the first quarter period gross collections totalled $1.11 billion which is 35% above the prior year and 8.1% above target.
In each of the 3 months, gross revenue collections outperformed both the prior year and respective monthly target.
At $1.11 billion the quarterly revenue was 3% ahead of the previous quarter (Q4-17) which is typically the best of 4 quarters in an average year.
The overall firming trend is a carryover from the prior year where ZIMRA reported a sharp surge in revenue to achieve the best performance since dollarisation at $3.75 billion.
This trend is expected to be maintained to the full year owing to a surge in corporate profitability and a seemingly re-emerging demand.
By Respect Gwenzi for The Source
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