138 (a) borrowings by the State; (b) the public debt; and (c) debts and obligations whose payment or repayment is guaranteed by the State; and those limits must not be exceeded without the authority of the National Assembly. (2) An Act of Parliament must prescribe terms and conditions under which the Government may guarantee loans. (3) Within sixty days after the Government has concluded a loan agreement or guarantee, the Minister responsible for finance must cause its terms to be published in the Gazette. (4) The Minister responsible for finance must— (a) at least twice a year, report to Parliament on the performance of— (i) loans raised by the State; and (ii) loans guaranteed by the State; (b) at the same time as the estimates of revenue and expenditure are laid before the National Assembly in terms of section 17.8, table in Parliament a comprehensive statement of the public debt of Zimbabwe. 17.4 Allocation of revenues between provincial and local tiers of government (1) An Act of Parliament must provide for— (a) the equitable allocation of capital grants between provincial and metropolitan councils and local authorities; and (b) any other allocations to provinces and local authorities, and any conditions on which those allocations may be made. (2) The Act referred to in subsection (1) must take into account, amongst other factors— (a) the national interest; (b) any provision that must be made in respect of the national debt and other national obligations; (c) the needs and interests of the central government, determined by objective criteria; (d) the need to provide basic services, including educational and health facilities, water, roads, social amenities and electricity to marginalised areas; (e) the fiscal capacity and efficiency of provincial and metropolitan councils and local authorities; (f) developmental and other needs of provincial and metropolitan councils and local authorities; and (g) economic disparities within and between provinces. (3) Not less than five per cent of the national revenues raised in any financial year must be allocated to the provinces and local authorities as their share in that year.