Economy / Zimbabwe
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Macroeconomic Forecast Zimbabwe
June 2008 | Macroeconomic ForecastsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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BMI View: Some local analysts believe that the true rate of inflation is now at least 1,000,000,000% and spiralling. As ever, the propelling force is massive state overspending funded almost entirely by unbacked monetary emission and government borrowing from the central bank, which has created a domestic public debt mountain last put at ZWD6.8 quadrillion. There are few official statistics still being issued, but business leaders now estimate unemployment at 90%, while in real terms household incomes have fallen to levels seen since the 1970s.