Source: Zimbabwe losing $4bn annually to corruption | The Financial Gazette May 24, 2018
Deputy Finance Minister, Terrence Mukupe says government could help the situation by putting in place legislation to arrest corruption
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