{"id":17686,"date":"2020-01-04T18:52:04","date_gmt":"2020-01-04T16:52:04","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=17686"},"modified":"2020-01-04T18:52:04","modified_gmt":"2020-01-04T16:52:04","slug":"once-solid-zimbabwe-economy-is-in-free-fall","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/once-solid-zimbabwe-economy-is-in-free-fall","title":{"rendered":"Once solid Zimbabwe economy is in free fall"},"content":{"rendered":"

Another looming drought, worsening foreign currency shortage and 18-hour rolling power cuts are set to push Zimbabwe\u2019s troubled economy closer to the precipice this year, experts warn.<\/p>\n

The once formidable economy has been lurching from one crisis to another since the turn of the Millennium when the government started repossessing fertile land from the white minority for redistribution to landless blacks.<\/p>\n

A severe drought during the 2018\/19 farming season, described as the worst dry spell in a century, saw the economy contract by nearly seven per cent and the country\u2019s sole source of hydropower\u2014Kariba Dam\u2014virtually dry up.<\/p>\n

Halfway through this 2019\/20 season, the country received very little rainfall, signalling another drought.<\/p>\n

Listed companies such as Delta Corporation and Econet Wireless Zimbabwe in their results for the year ending December, said their viability was threatened by the widespread power cuts and foreign currency shortages.<\/p>\n

Delta, Zimbabwe\u2019s largest drinks maker, reported a 48 per cent drop in half-year beer sales compared with the same period in 2018, after output and distribution were constrained by shortages of fuel and electricity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Another looming drought, worsening foreign currency shortage and 18-hour rolling power cuts are set to push Zimbabwe\u2019s troubled economy closer to the precipice this year, experts warn. The once formidable economy has been lurching from one crisis to another since the turn of the Millennium when the government started repossessing fertile land from the white […]<\/p>\n","protected":false},"author":84,"featured_media":17676,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[239,1097],"class_list":{"0":"post-17686","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-economic-chaos","10":"tag-hyperinflation"},"yoast_head":"\nOnce solid Zimbabwe economy is in free fall - zimbabwe<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/once-solid-zimbabwe-economy-is-in-free-fall\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Once solid Zimbabwe economy is in free fall\" \/>\n<meta property=\"og:description\" content=\"Another looming drought, worsening foreign currency shortage and 18-hour rolling power cuts are set to push Zimbabwe\u2019s troubled economy closer to the precipice this year, experts warn. 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