Business pessimistic over 2023 prospects

MUCH of the country’s business sector expects the economy to tank next year due to the looming general elections, which have in the past been associated with policy reversals and political violence, a survey has found.

This comes as Zimbabwe’s economic crisis, characterised by a debilitating liquidity  crunch, currency volatility and three-digit inflation, has been deepened by the current rolling power cuts which are lasting up to 18 hours or more as a result of  reduced generations by one of the country’s two major power stations, the Kariba Power Station.

The power station has been forced to halve its power generation capacity to 300 megawatts owing to low water levels in Lake Kariba.

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