Breaking News

$217 left in Zimbabwe government coffers

by Sapa-AFP
29 January 2013 | 5196 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 airtime and street vendors pay the $1 a day State levy?

Yes
14.89%
No
72.34%
Desperation
12.77%
47

Comments

News Updates

Email:

Latest News

Tsvangirai returns home today - MDC-T leader Morgan Tsvangirai who yes...

by Staff reporter | 30 July 2014 | 201 Views

Tsvangirai meets British Africa minister - MDC-T leader Morgan Tsvangi...

by Staff reporter | 30 July 2014 | 245 Views

Conspiracy against Prophet Makandiwa? - The Zimbabwe Revenue Authority...

by Staff reporter | 30 July 2014 | 398 Views

MPs exempted from tollgate fees - Legislators have been exempted from ...

by Staff reporter | 30 July 2014 | 345 Views

Econet drives towards cashless society - Econet Wireless Chief Executi...

by Staff reporter | 30 July 2014 | 526 Views

EcoCash launches Mobile Money Companion Debit Card in Zimbabwe - Econ...

by Staff reporter | 30 July 2014 | 505 Views

Has Choppies become some loan shark? - WhatsApp

by Concerned Citizen | 30 July 2014 | 858 Views

Border post still using this shack - WhatsApp

by Concerned citizen | 30 July 2014 | 1003 Views

Masvingo Beitbridge Road; Mpofu please give us a better answer

by Bekezela Maduma Fuzwayo | 30 July 2014 | 1410 Views

New twist to Bosso Nyaradzo bus; 'Bosso has no qualified driver' - The...

by Staff Reporter | 30 July 2014 | 1844 Views

Young kombi driver escapes from accident scene - several injured

by Ezra Tshisa Sibanda in Bulawayo | 30 July 2014 | 2002 Views

Mnangagwa behind Grace Mugabe's Zanu-PF Politburo rise?

by Itai Gwatidzo Mushekwe/ Mary-Kate Kahari | 30 July 2014 | 3009 Views

Baba Jukwa suspect's mom grilled by CIOs

by Staff reporter | 30 July 2014 | 2206 Views

Deco turns down Bosso

by Sports reporter | 30 July 2014 | 1224 Views

MDC-T constitutional amendments to create an expanded presidium

by Staff reporter | 30 July 2014 | 878 Views

Baba Jukwa link, student refused UZ student ID card

by Staff reporter | 30 July 2014 | 1312 Views

'Mnangagwa has no faction'

by Staff reporter | 30 July 2014 | 859 Views

Mawere distances self from MDC-Renewal merger

by Staff reporter | 30 July 2014 | 1164 Views

'Munotidako' up for theft - SUNGURA artiste Jacob Moyana, popularly kn...

by Staff reporter | 30 July 2014 | 1418 Views

Security guard raped - A HWANGE man yesterday appeared in court facing...

by Staff reporter | 30 July 2014 | 1725 Views

Mohadi meets Zimbabwean exiles based in SA over permits

by Staff reporter | 30 July 2014 | 1686 Views

Zanu-PF bootlicking stampede - THE stampede to endorse President Rober...

by Staff reporter | 30 July 2014 | 1300 Views

Bribery cops on the run

by Tendai Rupapa | 30 July 2014 | 1226 Views

Bosso striker trials at Witbank Spurs - Highlanders' striker Cleopas "...

by Sports reporter | 30 July 2014 | 879 Views

Peter 'Rio' Moyo's dream move to Mpumalanga Black Aces collapses - WA...

by Sports reporter | 30 July 2014 | 1295 Views

785 killed in road accidents - AT least 785 people have been killed in...

by Farai Kuvirimirwa | 30 July 2014 | 566 Views

Varsity students denied results over demonstration

by Nqobile Tshili | 30 July 2014 | 832 Views

Man stabbed over spit in beer

by Pamela Shumba | 30 July 2014 | 764 Views

Entertainment

Miss Zimbabwe UK 2014 aims to raise bar in quality

by Staff Reporter | 29 July 2014 | 1356 Views

Gospel singer wants prostitution to be legalised - Controversial gospe...

by Staff reporter | 27 July 2014 | 3827 Views

Zimbabwean boy revels in Soul Brothers music

by Lovemore Dube | 26 July 2014 | 6944 Views

Carl Joshua Ncube to tour with brand new material - The brand new stan...

by Staff Reporter | 24 July 2014 | 981 Views

Macheso gears up for UK tours - In an apparent joint preparation for t...

by Entertainment reporters | 23 July 2014 | 1912 Views

DJ Munya is back - After a two-year hiatus, DJ Munya - real name Munya...

by Entertainment Reporter | 23 July 2014 | 3910 Views

White guy plays chitekete - https://www.youtube.com/watch?v=kp16XF-Tcf...

by Staff Reporter | 23 July 2014 | 5581 Views