Zimbabwe suspends bonus payments to public workers as revenues dip

April 14, 2015 8:47 AM

53 0

HARARE, April 14 (Reuters) - Zimbabwe's government will not pay annual bonuses to public workers for two years because of falling tax revenues, the finance minister said on Tuesday, another sign the southern African economy is struggling.

The government forecasts growth this year of 3.2 percent, but analysts say weak commodity prices, patchy rainfall this season and company closures as a result of cheap imports and high interest rates will curtail the economy's growth.

Also read: Morgan Stanley Profit Rises 57% on Surge in Bond-Trading Revenue

Read more

To category page