Breaking News

$217 left in Zimbabwe government coffers

by Sapa-AFP
29 January 2013 | 5669 Views
AFTER paying public workers' salaries last week, the balance in cash-strapped Zimbabwe's government public account stood at just $217, Finance Minister Tendai Biti said on Tuesday.

"Last week, when we paid civil servants there was $217 (left) in government coffers," Mr Biti told journalists in the capital Harare, claiming some of them had healthier bank balances than the state.

"The government finances are in a paralysis state at the present moment. We are failing to meet our targets."

Zimbabwe's economy went into free fall at the turn of the millennium, after President Robert Mugabe began seizing white-owned farms. The move demolished investor confidence in the country, paralysed production, prompted international sanctions and scared off tourists.

After more than a decade - during which the country suffered from hyperinflation of 231,000,000% and infrastructure that crumbled as quickly as prices went up - the situation is now more stable. But public finances remain a mess, and local business battles against unstable electricity supplies, lack of liquidity and high labour costs.

Zimbabwe's government has warned it does not have enough money to fund a constitutional referendum and elections expected this year. Mr Biti said that left no choice but to ask the donors for cash.

"We will be approaching the international community," he said.

The country's elections agency said it requires $104m to organise the vote.




The government's national budget for this year stands at $3.8bn and the economy is projected to grow 5%.

The mineral-rich country is now using the US dollar and the South African rand.


Coffers

Source: Sapa-AFP

Should Miss World Zimbabwe have been dethroned?

Yes
34.36%
No
60.79%
Not sure
4.85%
227

Comments

News Updates

Email:

Latest News

Of Jonathan Moyo and the Cabinet reshuffle - Am sure it is not the sub...

by Richard Mahomva | 07 July 2015 | 361 Views

Grace Mugabe presidency unlikely - There is no doubt that Grace Mugabe...

by Conrad Nyamutata | 07 July 2015 | 926 Views

Mugabe obsessed with power retention, says Biti - President Robert Mug...

by Staff reporter | 07 July 2015 | 730 Views

US Embassy call for NPO proposals - The U.S. Ambassador's Special Sel...

by Machinda Marongwe | 07 July 2015 | 701 Views

'I am rich but not a Satanist,' says Prophet Magaya - Prophet Walter M...

by Staff Reporter | 07 July 2015 | 2187 Views

'I was pretending to be holy,' says Nicholas Zakaria

by Staff Reporter | 07 July 2015 | 5472 Views

RBZ worker steal worthless Zimdollars

by Thobekile Zhou | 07 July 2015 | 2361 Views

MDC statement on Cabine reshuffle - Yesterday's cabinet reshuffle by P...

by Joshua Mhambi, MDC National Spokesperson | 07 July 2015 | 2619 Views

Kasukuwere tell city fathers that it is no longer business as usual - ...

by Staff reporter | 07 July 2015 | 4272 Views

Is Grace Mugabe's 'bedroom coup' a reality in Zimbabwe? - WHEN former ...

by Dumisani Muleya | 07 July 2015 | 2943 Views

Zimbabwe roads 'not for amateurs' - The state of Zimbabwe's roads is t...

by Marko Phiri I Reuters | 07 July 2015 | 1277 Views

'Shun 'thigh for a pass' culture,' students urged - FEMALE students in...

by Heather Charema | 07 July 2015 | 2405 Views

No problem with bedding under aged girls? - survey - Plan Internationa...

by Thobekile Zhou | 07 July 2015 | 2544 Views

NRZ suspends use of elevators - THE National Railways of Zimbabwe (NRZ...

by Staff reporter | 07 July 2015 | 1921 Views

Mutasa savages 'crazy' minister - Commenting on the farm invasion by M...

by Staff reporter | 07 July 2015 | 3605 Views

Mphoko sold dummy over Hwange equipment - Vice President Phekezela Mph...

by Staff reporter | 07 July 2015 | 2336 Views

1 418 Zimbabwean dead bodies repatriated from SA - A total of 1,418 b...

by Thupeyo Muleya | 07 July 2015 | 3842 Views

Tomana does not serve at Mugabe's pleasure - CONSTITUTIONAL expert Ale...

by Staff reporter | 07 July 2015 | 1772 Views

CIO protected witness from Zanu-PF youths - Theresa Ndambakuwa, a witn...

by Staff reporter | 07 July 2015 | 2042 Views

Cuthbert Dube praise Warriors as Zifa workers petition him

by Thobekile Zhou | 07 July 2015 | 2022 Views

Gomwe case reaches stalemate - The trial of ousted Zanu-PF Harare prov...

by Staff reporter | 07 July 2015 | 1585 Views

Jonathan Moyo's appointment as Higher and Tertiary Education minister ...

by Stephen Jakes | 07 July 2015 | 3236 Views

Ex-convict demands married lover back

by Staff Reporter | 07 July 2015 | 2773 Views

36 Congolese nationals intercepted at Plumtree - Thirty six Congolese ...

by Staff Reporter | 07 July 2015 | 1974 Views

Sangoma quits profession after betting on wrong horse - Durban - After...

by Staff Reporter | 07 July 2015 | 1803 Views

Entertainment

Zim Models Awards nominees list out - The list for the inaugural Zimba...

by Staff reporter | 07 July 2015 | 796 Views

Bigger and Better Women's Day Gospel Festival

by Entertainment Reporter | 03 July 2015 | 3533 Views

Silence Is Not Peace!, Says Bongani Ncube

by Nkosini Tshuma | 02 July 2015 | 4545 Views

Zimbabweans fail to answer a simple question like who is your former p...

by Staff reporter | 02 July 2015 | 5751 Views

Zim Achievers to host first ever winners and nominees reception - Win...

by Arts Correspondent | 02 July 2015 | 2519 Views

Team Bulawayo UK Shows cancelled - The Team Bulawayo UK shows which we...

by Thulani Nkala | 02 July 2015 | 2984 Views

DStv adds new channel for Zimbabwe viewers

by Staff reporter | 01 July 2015 | 11408 Views

Rihanna Duct Tapes Floyd Mayweather's Mouth Shut at BET Awards

by Staff Reporter | 30 June 2015 | 9657 Views
iBlog

Tb Joshua Worst Enemy Angelique Tonge Exposed

About two years ago, we came out emphatically about those behind the t.b joshua watch. many were those who thought we were framing innocent people up or on a witch hunt. some events have vindicated us and the cat is out of the bag. it is said that no... Read More
pointblank 01 May 2015 ago

Samsung Gear Vr Innovator Edition For S6: The Perfect Vr Intro For Professionals

we're drenched in talk about the impending wave of consumer-facing vr headsets about to hit the market, starting at the end of 2015. by contrast, you can walk into a best buy right now and pick up the samsung gear vr innovator edition for the galax... Read More
Sergey 20 June 2015 ago