Import restrictions may be working as trade deficit reduces by 27% to $2,2 billion

Zimbabwe’s trade deficit has fallen by 27 percent to $2,2 billion.  This may be a sign that the import restrictions implemented by the government are working.  The government introduced Statutory Instrument to 64 to stimulate local industries.

The Zimbabwe National Statistics Agency revealed figures that show that the trade deficit has gone down from $3 billion to $2,2 billion for the first 11 months.

In the 2017 Budget presentation Minister of Finance  Patrick Chinamasa said:

With regards to evening the playing field, initial results from an evaluation of the impact of SI64 indicate gains in capacity utilisation across sub-sectors such as milling and baking, food, fruits and vegetables processing.  Others included iron and steel making, battery manufacturing, packaging, pharmaceuticals, and furniture manufacturing, among others

More: Newsday

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