Browsing: Zimbabwe’s economy

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Zimbabwe stares at economic slowdown to 2 percent due to El-Niño crisis

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  • The IMF forecasts that Zimbabwe’s economy will decelerate to about 2% this year, down from 5.3% in 2023, due to a severe El-Niño-induced drought.
  • Declared a national disaster in April 2024, the El-Niño-induced drought in Zimbabwe has severely hit agriculture, and tourism while sparking human-wildlife conflict.
  • Traditional grain suppliers Zambia and Malawi are unable to meet Zimbabwe’s needs, compelling Harare to import GMO maize from South Africa.

The International Monetary Fund (IMF) has projected that Zimbabwe economy will decelerate to about 2 percent this year, down from 5.3 percent in 2023, primarily due to a severe El-Niño-induced drought, which has adversely affected agriculture, a critical sector for the Southern African country’s economy.

Declared a national disaster in April 2024, the El-Niño-induced drought in Zimbabwe has severely depleted water sources, with Lake Kariba, one of the country’s primary water reservoirs, holding only 13 percent of its capacity. The dire situation is …

Zimbabwe spending doubles targeting 5.5% growth in 2022

Economic Growth

Treasury is expected to continue its trajectory f fiscal consolidation and discipline together with increasing incentives to grow investments in value chain sectors and stability in power supply.
On the taxation front the budget was expected to provide relief to the poor who make up at least 49.9 per cent of the population of the country. This is particularly significant because it has been said on several occasions that Zimbabwean people are among the most taxed in southern Africa.
This is partly the legacy of the minister of finance’s austerity for prosperity policy which resulted in a largely resented 2 per cent transfer tax on all transactions. There have been calls for this tax to be repealed and the tax-free threshold to be increased.…

zimbabwe food security

Food Insecurity in Zimbabwe: A Crisis in the Making?

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Zimbabwe's food security levels are quite low, but there is a promise of a better outcome from the previously anticipated situation. This is mainly because the country has received above-average levels of rainfall during the current rain season. There is hope that the expected bumper harvest will help bring resolution to the challenges of food insecurity.

However, there is still a need for food aid due to the deficit emanating from the two previous consecutive poor rainfall seasons experienced in most districts of Zimbabwe. The droughts resulted in poor harvests, which caused inadequate household food stock from personal production.…

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Zimbabwe: We need money, just print it

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Zimbabwe is on the verge of another economic crump that is bound to be far worse than what it has been suffering for the last decade. 

Already, the nation has been on an indefinite national lockdown for the third month running, and now, the pandemic is really taking a dire toll on the economy. Well, it is not the coronovirus effect that is bound to doom Zimbabwe into an economic crunch (yet again) rather, it is the country’s tendency to simply print money whenever it deems fit; if only life were so easy! 

Zimbabwe, like all other countries is looking to cushion its business sector from the coronavirus crunch. However, the way Zimbabwe is looking to fund its proposed ZW$18 Billion stimulus package is if anything, questionable, if not downright unadvisable, or to be blunt, shall we just o ahead and call it, rudimentary. 

Well how else would you …