Zimbabwe’s annual broad money supply slightly rose to 4.37 billion U.S. dollars in March 2015 from 4.33 billion dollars in February as the economy continues to suffer from tight liquidity conditions, the Reserve Bank of Zimbabwe has said.
The country’s annual growth of broad money, however, decelerated to 6.75 percent in March from 7.86 percent in February, the RBZ said in its latest monthly economic review.
“Contributing to the annual growth in broad money were increases in long term deposits of 29.29 percent, savings deposits 9.97 percent and demand deposits of 2.1 percent,” the RBZ said.
It said short term deposits, however, declined by 2.58 percent over the same period while the structure of deposits remained largely the same with demand deposits accounting for 48.51 percent, long term 20.32 percent, short term 18.53 percent and savings deposits 12.61 percent.
The annual growth in credit to the domestic economy increased by 4.57 percent to 4.37 billion dollars in March 2015 from 4.18 billion dollars in March 2014, the RBZ said.
Credit to the private sector grew from 3.63 billion dollars in February to 3.76 billion in March.
Sectorally, credit was mainly channelled to services accounting for 21.66 percent of total credit. Agriculture received 18.22 percent, manufacturing 15.77 percent, distribution 14.87 percent and mining 6.75 percent. Enditem