Revenue collections for Q2 surpass target

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ZIMBABWE’S revenue collections for the second quarter to June 2023 were $3,2 trillion against a target of $1 trillion, official Treasury statistics show.
During the period under review, the country witnessed a sharp increase in inflation following the depreciation of the local currency against the US$ on both the formal and parallel markets.
“The economy exhibited strong economic performances during the second quarter of 2023, underpinned by strong agriculture summer cropping season activities, increased electricity generation, as well as buoyant tourism activities,” the Treasury said in its second quarter bulletin.
“However, significant depreciation of the local currency and the subsequent rise in inflation presented a challenge for the industry and households, undermining the attainment of economic growth potential during the quarter.”