Diamond industry likely to release fiscal pressure

THE diamond industry has the potential to release a lot of fiscal pressure that the economy is experiencing which has seen capital expenditure being sacrificed to the detriment of economic growth, a local research firm has said.

In its weekly update, the firm, MMC Capital, said the recent move to lift sanctions on the Zimbabwe Mining Development Corporation (ZMDC) was likely to result in the acceptance of the country’s gems.

The European Union last week announced that it was lifting sanctions on ZMDC.

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