How the US$1.73 billion disbursed through the auction was used


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Zimbabwe disbursed US$1.73 billion through the foreign currency auction system between June last year and July this year and 70% went to the productive sector.

According to figure released by the central bank on Friday, 41% was used for the procurement of raw materials, 19 % for machinery and equipment and 10% for consumables.

Fuel, electricity and gas only accounted for 6% while 8% went to retail and distribution.

Pharmaceutical and chemicals got 7% while services were also allocated 7%.

(82 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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