The biggest economic news of the year came almost without notice: China has overtaken the United States as the world’s largest economy, according to the scorekeepers at the International Monetary Fund.
The Zimbabwe African National Union-Patriotic Front central committee will now decide the fate of Vice-President Joice Mujuru as it has been given the task to amend the party’s constitution to allow President Robert Mugabe to choose his own politburo just like he chooses his own cabinet.
With the rise of Asian economies and their desire to play a greater role on the world stage, it has been suggested that Africa should choose between keeping its partnerships with the West and embracing new alliances with the East.
The Zimbabwe Energy Regulatory Authority (ZERA) is auditing fuels firms as it tries to establish the correct pricing for fuel in the economy, an official said yesterday.
Finance Minister Patrick Chinamasa says the in-fighting within the Zimbabwe African National Union-Patriotic Front which some have said is going to split the party is healthy. “It’s a good thing, it’s democratic,” Chinamasa said in South Africa where he went to address an investment conference organised by the Business Herald.
Government has gazetted the statutory instrument which gives individuals and companies an amnesty for defaults on tax obligations accrued between 2009 and September this year in a bid to improve financial disclosures and widen the revenue inflows as the economy accelerates to informalisation.