ZIMBABWE

Budget deficits threat to Zim economy, says WB

WORLD Bank representative in Zimbabwe, Johannes Herdeschee has said while the country faced a myriad of problems, fiscal deficits, which have ballooned to 10% of gross domestic product, were the bigge...

By Staff reporter | Published: 08 August 2017

ZIMBABWE

Exports rake in $4.9 billion

Zimbabwe has generated exports worth US$4.9 billion since the introduction of the five percent export incentive scheme in May last year, representing a 14 percent increase on foreign currency receipts...

By Staff reporter | Published: 03 August 2017

ZIMBABWE

South African exports to Zimbabwe fall

South Africa is feeling the pinch of the tight import controls gazetted by the Zimbabwean government with statistics indicating the volume of exports have registered a 10 percent drop since January.Zi...

By Staff reporter | Published: 02 August 2017

ZIMBABWE

Zim trade deficit narrows by 5% in first half

ZIMBABWE'S trade deficit in the first half of the year narrowed by 5% to $1,3 billion, an indication that the country continues to rely on foreign-produced goods in spite of government efforts to halt...

By Staff reporter | Published: 01 August 2017

ZIMBABWE

Zimbabwe economy continues to shrink

ZIMBABWE's economy has continued to shrink, leading to growing unemployment and significant underemployment, an international research body has said.A recent Business Monitor International (BMI) repor...

By Staff reporter | Published: 01 August 2017

ZIMBABWE

Bond notes to account for 50% of money in circulation

BOND notes are likely to end up accounting for 50% of the money in circulation by year-end given their current dominance in a both the formal and informal markets, a local economist has said.Ashok Cha...

By Staff reporter | Published: 27 July 2017

ZIMBABWE

Zim to achieve 3.7% economic growth

The Macro-Economic and Financial Management Institute for Eastern and Southern Africa(MEFMI) says Zimbabwe is on course to achieve the 3.7 percent growth rate this year on the back of policies to resu...

By Staff reporter | Published: 24 July 2017

ZIMBABWE

'Total exports to grow to $3.9bn by year-end'

GOVERNMENT has projected that total exports will grow to $3,9 billion by year-end driven by a strong performance in tobacco, platinum group metals (PGMs), nickel and many others.In his 2016 annual bud...

By Staff reporter | Published: 24 July 2017

ZIMBABWE

'Chinamasa fiscal review an admission of failure'

Finance minister Patrick Chinamasa's mid-term fiscal policy review is "empty" and an "insult" to long-suffering Zimbabweans, which proves an admission of leadership failure, opposition parties said.P...

By Staff reporter | Published: 23 July 2017

ZIMBABWE

Zim budget overrun sours to $900 million

The government had a budget overrun of a whopping $902,2 million by the end of 2016 on the back of huge employment costs and agriculture recovery that were largely unplanned for in the annual budget.P...

By Staff reporter | Published: 22 July 2017

ZIMBABWE

Mugabe's govt continue with reckless spending

GOVERNMENT is continuing with its reckless spending spree - with President Robert Mugabe's office leading the way, overspending by US$43 million - as its unsustainable budget deficit scaled almost US$...

By Staff reporter | Published: 21 July 2017

ZIMBABWE

Zim earns $2.8bn foreign currency receipts

THE Reserve Bank of Zimbabwe (RBZ) says the country has for the first half of the year received $2,8 billion in foreign currency receipts.RBZ governor, John Mangudya said of the amount, $2 billion wa...

By Staff reporter | Published: 13 July 2017

ZIMBABWE

Mugabe's govt in wage bill headache

Government is still struggling to contain its wage bill as it emerged that this expenditure accounted for 86 percent of its overheads in the first month of the year.President Robert Mugabe's administr...

By Staff reporter | Published: 04 July 2017

ZIMBABWE

World Bank urges Zim to slash public sector wage bill

DailyNews Deputy Business Editor, Ndakaziva Majaka, talks to World Bank's (WB) outgoing country manager, Camille Nuamah, whose tour of duty ran from June 2014.NUamah will be succeeded by WB's sector m...

By Staff reporter | Published: 04 July 2017

ZIMBABWE

Contain 'cash burning', up money supply

RESERVE Bank of Zimbabwe (RBZ) governor, John Mangudya is this month expected to announce the Mid-Term Monetary Policy Statement, with economists calling for measures to contain "cash burning" and inc...

By Staff reporter | Published: 04 July 2017

ZIMBABWE

SEZ programme favours foreign investors

THE Special Economic Zones (SEZs) law favours foreign investors compared to local ones, out-going Zimbabwe National Chamber of Commerce (ZNCC) president, Davison Norupiri has lamented.Norupiri told Ma...

By Staff reporter | Published: 04 July 2017

ZIMBABWE

Zimbabwe to announce National Competitiveness Commission board

GOVERNMENT will soon announce the National Competitiveness Commission board in line with the National Competiveness Commission Act.The Act was signed into law by President Robert Mugabe recently to re...

By Staff reporter | Published: 04 July 2017

ZIMBABWE

'Zim economy to regress further,' says IMF

Zimbabwe's economy is set to slump further this year due to continued decline in global commodity prices, fiscal challenges, and possible difficulties in policy implementation, the International Monet...

By Staff reporter | Published: 21 June 2015

ZIMBABWE

'Zim can reduce trade deficit with SA'

Zimbabwe has the capacity to turn around its $2,2 billion trade deficit with South Africa if the country starts producing more goods, economic analysts say.This comes after President Robert Mugabe on ...

By Staff reporter | Published: 21 June 2015

ZIMBABWE

Inflation declines further

Zimbabwe's annual inflation rate decreased by 0,12 percentage-points on the January rate of -1,28 percent to -1,40 percent in February, the Zimbabwe National Statistics Agency (Zimstats) said on Frida...

By Staff reporter | Published: 07 June 2015

ZIMBABWE

Zimdollar mentality lingers

Zimbabwean products are expensive as "companies have failed to leave the Zimbabwe dollar mentality" of charging high prices, central bank governor John Mangudya said.He said the scenario has made loca...

By Staff reporter | Published: 07 June 2015

ZIMBABWE

Zim inflation rate remains in the negative

Zimbabwe's year-on-year inflation rate receded to -1, 28 percent in January 2015 after shedding 0, 48 percentage points on December 2014's - 0, 80 percent.The Zimbabwe National Statistics Agency (Zims...

By Staff reporter | Published: 07 June 2015

ZIMBABWE

'Zim govt lacks capacity to fix economy'

Government created the economic mess currently being experienced in the country and is lacking capacity to turn around the country's economic fortunes, an economist has said.Brains Muchemwa, a renowne...

By Staff reporter | Published: 07 June 2015

ZIMBABWE

Chinamasa's Mid-Term Budget Review in doubt

THE Mid-Term Budget Review statement was highly unlikely to be announced anytime soon, Finance Minister Patrick Chinamasa told Parliament yesterday.Chinamasa said this when he appeared before the Parl...

By Staff reporter | Published: 22 July 2014

ZIMBABWE

Zimra misses revenue target

The Zimbabwe Revenue Authority missed its revenue target for the first half-year to June by 1 percent as poor economic conditions negatively affected inflows to the fiscus.Zimra commissioner-general M...

By Staff reporter | Published: 22 July 2014
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