Source: Zimbabwe losing $4bn annually to corruption | The Financial Gazette May 24, 2018
By Chris Mahove
ZIMBABWE is losing an average $4 billion annually to corruption due to bureaucratic bungling, a local economist Prosper Chitambara has said.
Chitambara said the country’s institutional fabric had been eroded over time, adding that this applied to both economic and political institutions, a situation he said created a fertile breeding ground for corruption.
“So if you consider the fact that Zimbabwe is a $16 billion economy and 25 percent of that is lost, then you can actually project that in Zimbabwe we are losing about $4 billion through corruption. So that is very huge,” said Chitambara.
COMMENTS
A very low estimate.
I would say Zim is a 50bn dollar economy that has lost 34bn to corruption and confusion over the last 38 years! And that is assuming a modest 5% p.a growth rate, at average 10% p.a. our economy will now be over 250bn!. Cry the beloved country.
ZW is always ready to talk big numbers. It should be talking to Malawi as that is a similar size economy today. Maize cobs, groundnuts, chickens, a few sheep and a bit of gold and platinum. Poverty will be with us as long as ZANUPF remain in power
The halcyon days of ZW are truly past comrades