Zimbabwe’s government overspent by $358.4 million between January and May, with foreign travel chewing more than double the budget, indicating that the country’s fiscal deficit will widen this year as authorities fail to rein in spending. Official data showed that total expenditure amounted to $2 billion against a budget of $1.676 billion as foreign travel costs spiralled out of control. Treasury expects a budget deficit of $1.41 billion this year, higher than initial projections of $400 million this year after overspending by $1.4 billion last year.
Movement for Democratic Change leader Morgan Tsvangirai who was rushed to hospital on 15 September and has not yet fully recovered will go for review today.
The Zimbabwe Stock Exchange touched a fresh high in the trading week to Friday, growing by 7.28 percent to 448.83 points, driven by appetite for stocks in several heavyweight counters.
Linguist and media critic Noam Chomsky has listed 10 strategies used by politicians to manipulate the people.
General Beltings Holdings narrowed its net loss for the six months to June by nearly a third to $254 230 from $360 380 in the prior comparable period chiefly due to lower operating expenses.
Turnall Holdings says it is negotiating with banks to conclude a scheme of arrangement which will see the manufacturer of building materials restructure its debt. Acting finance director, Samson Mavende told analysts that the scheme of is expected to be complete by December.
Regional seed producer, SeedCo expects its sales and earnings to grow this year on positive weather forecasts and continuation of government’s farmer support programme.