Economy

Zimbabwe: Chinamasa’s Tough Budget Balancing Act

Zimbabwe: Chinamasa’s Tough Budget Balancing Act

FINANCE and Economic Development minister Patrick Chinamasa presents the 2016 National Budget on Thursday amid very little inflows to Treasury due to the prevailing economic downturn. Latest statistics from the Zimbabwe Revenue Authority show that revenue collected in the third quarter ended September 30 was $878,22 million against a target of […]

‘Zim debt strategy ambitious’

‘Zim debt strategy ambitious’

DIVERSIFIED insurance giant Old Mutual says Zimbabwe’s target to have paid off its $1,8 billion arrears to its preferred creditors by April 2016 is ambitious and demands strong political will. The company’s research unit, Old Mutual Securities, said Zimbabwe still has a long way to go before servicing its debts and […]

‘Increased power cuts to affect economic growth’

‘Increased power cuts to affect economic growth’

ZAMBEZI River Authority (ZRA)’s intention to allocate reduced water supply to Zimbabwe due to declining water-levels in Kariba Dam will significantly affect the country’s future economic growth prospects, economic analysts have warned. Zimbabwe’s economy is predicted to grow by 2,7 percent next year by the International Monetary Fund up from 1,5 […]

Mumbengegwi, Chinese envoy in bilateral talks

Mumbengegwi, Chinese envoy in bilateral talks

FOREIGN Affairs Minister Simbarashe Mumbengegwi yesterday met visiting Chinese Foreign Affairs Deputy Minister Mr Zhang Ming to discuss various ways of enhancing relations between Harare and Beijing. Mr Zhang is leading a five-member delegation that is in Zimbabwe for a three-day visit. Speaking after the meeting, Mr Zhang said he hoped […]