World Economy

Zimbabwe Food Imports Rise

Zimbabwe Food Imports RiseZimbabwe Food Imports Rise

Processed food imports have surpassed the $1 billion mark each year from 2012 negatively contributing to the trade deficit, which reached $3.4 billion last year, NewsNow reported. Bankers Association of Zimbabwe President Sam Malaba said processed food imports contribute a significant part of the current account deficit. Presenting a paper on Containment of Inflationary Pressures on Food Prices and Funding of the Entire Value Chain at the inaugural Zimbabwe Food Conference Expo, Malaba said the major driver of overall inflation deceleration has been food inflation–now in consecutive decline for over a year.