FIRST QUARTER TREASURY BULLETIN HIGHLIGHTS

The 2019 Budget Thrust is macro-fiscal stabilisation and laying a solid foundation for attaining the triple 'S' growth - strong, sustainable and shared. 

  • A budget surplus of RTGS$443.1 million was realised during the first quarter of 2019.
  • Revenue collection outperformed targets by 8.2%, recording RTGS$1.9 billion.
  • Expenditure was contained and stood at RTGS$1.5 billion, 11.8% below planned spending.
  • Government earmarked RTGS$100 million towards mitigating the impact of Cyclone Idai.
  • Month on month inflation averaged 5.6% during the quarter, down from 11.5% during the last quarter of 2018.
  • Market capitalisation of the ZSE decreased by -17.2% since the beginning of the year, standing at US$16.8 billion at the end of the quarter.
  • Due to drought and damages caused by cyclone Idai, agricultural production for the 2018/19 agricultural season is expected to decline substantially.
  • Mineral output targets remain achievable, as most key minerals’ first quarter production constituted more than 20% of total expected output of the year.
  • Electricity generation during the first quarter of 2019 was lower compared to the same period in 2018 because of lower water allocation at Kariba hydro power station.
  • Merchandise exports reached US$938.1 million, 5.9% more than in the first quarter of 2018.
  • The trade deficit for the first quarter of 2019 stood at US$165.9 million, constituting a 57% improvement from the fourth quarter of 2018.

To download the 2019 First Quarter Treasury Bulletin, CLICK HERE