World Economy

Zimbabwe Sinks Deeper Into Abyss

Zimbabwe  Sinks Deeper Into AbyssZimbabwe  Sinks Deeper Into Abyss

Revelations that Zimbabwe’s ability to attract investment has further declined, according to the latest World Economic Forum’s 2017-2018 Global Competitive Index, which ranked the southern African country 124th out of 137, is testament to government’s failure to put in place consistent policies that fuel economic growth and attract capital, AllAfrica reported. Though Zimbabwe’s ranking is lower than the 126th of last year, economist Roberto Crotti of the Geneva-based WEF Competitiveness Research, said that should not be mistaken for progress, considering its score of 3.3 out of 7. “Although the rank has gone up two places, the performance, if you look at the score, the country’s performance is likely worse than last year actually. The rank looks at the relative position and the score looks at the performance over time,” Crotti explained. He said Zimbabwe’s business environment has proved challenging to operate in for local, as well as foreign businesses, due to the country’s monetary and fiscal standing which have affected overall macro-economic performance.


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