admin
HARARE – Annual broad money supply in Zimbabwe increased by 32.71 percent to $8.1 billion in April this year from $6.1 billion reported in the same period last year due to a rise in transferable deposits and negotiable certificates of deposits, latest figures from the central bank have shown.
Broad money supply (M3), is a measure of the money in circulation which includes physical currency and demand deposits.
In the latest monthly report, the Reserve Bank of Zimbabwe (RBZ) said transferable deposits and negotiable certificates of deposits grew by 44.45 percent and 32.66 respectively.
Partially offsetting the gains recorded in the period under review, were time deposits which declined 10.20 percent.
On a month-on-month basis, broad money increased by 1.63 percent from $7.9 billion in March to $8.1 billion in April this year.
Credit to the private sector went up by 8.65 percent to $3.7 billion from $3.4 billion last year. However, on a month-on-month basis credit to the private sector increased by 0.88 percent from $3.6 billion in the previous month to $3.7 billion.
Credit to households claimed 24.15 percent of total domestic credit, followed by agriculture at 18.56 percent while distribution and services claimed 13.17 percent and 12.75 percent respectively as at the end of April this year.
Manufacturing share of credit stood at 11.24 percent while financial organisations and investments claimed 10.36 percent.
Mining and construction claimed 4.31 percent and 2.44 percent in that order while transport and communications claimed the least share at 1.61 percent.
The value of transactions processed through the National Payment System
(NPS) declined by 2.2 percent to $5.8 billion in April from $6.3 billion reported in March despite a 0.4 percent marginal increase in transaction volumes to 141.8 million. – New Ziana
Bongani Ndlovu