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Zimbabwe Economic Update, February 2016 : Changing Growth Patterns

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World Bank (WB)

Abstract: Low export prices and high production costs are contributing to a persistent deficit in the external accounts. Despite narrowing somewhat in recent years, Zimbabwe’s current account deficit remains much larger than those of comparable countries in the region, and exports currently amount to just over half of imports. A decline in global prices for gold, platinum and other mineral commodities, coupled with unresolved supply-side constraints, has reduced the value of mining exports. Zimbabwe has also benefited from lower oil prices, but rising import volumes largely offset the impact on import values. Remittances gradually increased during 2010-2015 and are estimated to have reached almost 7 percent of Gross National Income (GNI) in 2015. The domestic financial sector is slowly recovering from a post-dollarization credit boom and interest rates remain elevated. The Central Bank has stabilized the financial sector, a recent growth of broad money looks robust and bank lending has become market-driven. But still only blue-chip borrowers are able to access financing at competitive rates. The authorities are taking measures to update Zimbabwe’s credit infrastructure, strengthen oversight and restore the regulatory framework. Zimbabwe is experiencing a deflationary trend in response to these macroeconomic imbalances. The multicurrency regime, adopted in 2009, limits monetary policy instruments available to the authorities but also provides a level of fiscal and economic restraint. As competitive pressures increased, the consumer price index fell -2.5 percent, year-on-years, at end-2015. Declining prices should help to restore competitiveness over time, but should be accompanied by efforts to raise productivity at all levels of the economy.
Type: Report
Economic & Sector Work :: Economic Updates and Modeling
Economic & Sector Work
Link: http://hdl.handle.net/10986/23761
Subject: WASTE
TARIFFS
EMPOWERMENT
LAND ADMINISTRATION SYSTEM
CREDIT MARKETS
MONETARY POLICY
RISKS
CAPITAL MARKETS
HEALTH PLANNING
ECONOMIC GROWTH
PROFIT MARGINS
DEVELOPMENT ASSISTANCE
DEPOSITS
PEOPLE
POLICY ENVIRONMENT
AGRICULTURAL CREDIT
FINANCING
FISCAL DEFICITS
LENDING POLICIES
INTEREST
ANTENATAL CARE
LAWS
EMPLOYMENT OPPORTUNITIES
EQUITABLE ACCESS
GOVERNMENT FUNDING
INTEREST RATE
PROPERTY RIGHTS
INCOME GROUP
BANKING SYSTEM
ECONOMIC DEVELOPMENTS
REVENUES
FISCAL POLICY
WELFARE
HEALTH
LOAN
FEE
BORROWERS
ASSET MANAGEMENT
PAYMENTS
CREDITORS
DEBT BURDEN
CREDITOR
LENDER
PUBLIC HEALTH
LIFE EXPECTANCY
BANK LENDING
KNOWLEDGE
ECONOMIC ACTIVITY
LABOR MARKET
DIABETES
SAVINGS
IRON
LENDER-OF-LAST-RESORT
PATIENT
COMMERCIAL BANK
AGRICULTURAL MARKETS
EXPORT EARNINGS
INTERVENTION
ACCESS TO FINANCING
CURRENT ACCOUNT
DEBTS
HEALTH INDICATORS
FINANCES
PHONE PENETRATION
INTEREST RATES
NURSES
ECONOMIC EMPOWERMENT
PAYMENT
DEBT
CAPITAL MARKET
PRIVATE INVESTMENT
LIMITED ACCESS
PENETRATION RATE
BANKERS
LOANS
FOLIC ACID
FARMERS
CAPITAL STOCKS
SOCIAL DEVELOPMENT
BANK CREDIT
MORTALITY
SMALLHOLDERS
REAL ESTATE
HOUSEHOLD INVESTMENTS
CHILD CARE
FINANCE
DONOR SUPPORT
MEDICAL TREATMENT
ADMINISTRATIVE COSTS
PUBLIC INVESTMENT
BANK DEPOSITS
INVESTMENT DECISIONS
BANKS
FISCAL DEFICIT
EXPENDITURE
INSTITUTIONAL REFORMS
EQUITY
HUMAN CAPITAL
LAND MARKET
WORKERS
AFFORDABILITY
CAPITAL
CREDIT FACILITY
PATIENT SATISFACTION
CUSTOMER BASE
USER FEES
FIXED CAPITAL INVESTMENT
FAMILY
SOURCE OF INCOME
BANK
FOREIGN DIRECT INVESTMENT
CREDIT
FIXED CAPITAL
PURCHASING POWER
FOREIGN INVESTMENT
HEALTH OUTCOMES
SMALLHOLDER
URBAN AREAS
HOUSEHOLD
FINANCIAL BURDEN
PRICE STABILITY
AGRICULTURAL SECTOR
FAMILY PLANNING
EXPENDITURES
CAPITAL FLOWS
PROPERTY
SMALLHOLDER FARMERS
LOAN PORTFOLIO
MEASUREMENT
INSTITUTIONAL CAPACITY
CREDIT BUREAU
BUSINESS CONFIDENCE
DIVERSIFICATION
COLLABORATIVE RELATIONSHIP
WASTE DISPOSAL
INTERNET
EXPORT CROPS
ACCESS TO CREDIT
WEIGHT
COMMUNICABLE DISEASES
ECONOMIC DEVELOPMENT
CHILDREN
SECURITY
BANKERS ASSOCIATION
CLINICS
WORKING CONDITIONS
INVESTMENT
EXTREME POVERTY
FINANCIAL INTERMEDIATION
HOUSEHOLDS
ACCESS TO SERVICES
BALANCE SHEETS
ECONOMIC CRISIS
EQUALITY
PUBLIC FINANCES
ISOLATION
TARIFF
PRIVATE INVESTORS
EXTERNAL SHOCKS
REVENUE
EARNINGS
INVESTMENTS
BORROWING
FINANCIAL SUPPORT
TECHNICAL SUPPORT
INSECURE PROPERTY
STRATEGY
FEES
FISCAL DISCIPLINE
DONOR FUNDING
REMITTANCES
HOSPITALS
CAPITAL INVESTMENT
FOOD PROCESSING
ARREARS
IMPORT DUTIES
IMPLEMENTATION
HEALTH SERVICES
CAPITAL ACCOUNT
CAPITAL COSTS
GUARANTEE
CREDIT REGISTRY
DEVELOPMENT BANK
INEQUALITY
LAND ADMINISTRATION




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