Categories: Zim Latest

Zim set for US$1,1 bn current account surplus: RBZ

ZIMBABWE’s current account is expected to record a stronger surplus position of about US$1,091 billion this year.

This is higher than the initial projection of US$611,5 million, the Reserve Bank of Zimbabwe says.

Current account surpluses refer to positive current account balances, healthy for the economy.

This means that a country had more exports than imports of goods and services, implying a country able to meet all its external obligations.

Exports earn the country foreign currency, while imports take it out, hence the need to grow industry.

Meanwhile, the European Union has given Zimbabwean exports preferencial treatment.

Zwnews

 

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