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Baptism of fire for Chinamasa

ACTING Finance Minister Patrick Chinamasa faces an uphill task that could be likened to an attempt to fit a square peg into a round hole when he presents the 2009 national budget today.Chinamasa has acquitted himself well as Justice Minister and his negotiating skills have helped ZANU-PF dictate…

Unemployment rate spikes to 94%

In a report titled The Consolidated Appeal Process (CAP) 2009, the United Nations said diminishing opportunities on the country’s job market were causing serious suffering among the increasingly restive Zimbabwean population.“At the close of 2008, only six percent of the population was formally employed, down from 30 percent…

Zim faces huge food deficit

ZIMBABWE faces another huge food deficit in 2009 due to continued falls in farm production, mounting political uncertainty and economic instability, a report by a farmers’ union said yesterday.The country is battling hyperinflation and has endured food shortages since 2000, when government began seizing farms from whites to…

More firms seen closing

The Financial Gazette heard this week that several companies  extended their shutdown periods from mid-January to mid-March with others having deferred their re-opening to more distant dates hoping by then there would be positive change in the country's economy.Industry had hoped for rapprochement between the country's main political…