[Date]


JULY 2016


i

MONTHLY ECONOMIC REVIEW
TABLE OF CONTENTS
SELECTED ECONOMIC INDICATORS 1
STOCK MARKET DEVELOPMENTS 2
MONETARY DEVELOPMENTS 3
INFLATION OUTTURN 4
Annual Inflation 4
Monthly Inflation 5
NATIONAL PAYMENTS SYSTEM 5
Zimbabwe Electronic Transfer Settlement System (ZETSS) 5
Cash Transactions 6
Mobile and Internet Based Transactions 6
Card Based Transactions 6
Cheque Transactions 6

MONTHLY ECONOMIC REVIEW

June

July
Month-on-
Month
Change
Z.S.E. Mining Index1
24.7
25.7
4.05%
Z.S.E. Industrial Index1
101.0
98.8
-2.18%
National Payment System Transactions
(US$ millions)
6 948.8
6 319.33
-9.06%
Money Supply (US$ millions)2
5 140.7
5 138.0
-0.05%
Money Supply (M3) Annual Growth2 (%)
13.13
14.84

Yearly Inflation3 (%)
-1.4
-1.6

Monthly Inflation3 (%)
0.19
-0.19

Nominal Lending Rate2 (% per annum)
4.0-18.0
4.0-18.0

Sources:
1 Zimbabwe Stock Exchange (ZSE)
2 Reserve Bank of Zimbabwe (RBZ)
3 Zimbabwe National Statistics Agency (ZIMSTAT)
SELECTED ECONOMIC INDICATORS


MONTHLY ECONOMIC REVIEW

STOCK MARKET DEVELOPMENTS

Major stock markets in the USA, Europe and
Asia recorded gains during the month of July
2016. In Africa, trading was largely bullish in
major stock markets during the same month.
Increases were recorded in Egypt, 14.3%;
Morocco, 3.8%; South Africa, 3.3%; Kenya,
1.3%; and Tunisia, 0.9%. Losses were, however,
recorded in Nigeria, -0.2%.

The Zimbabwe Stock Exchange (ZSE) was
bearish during the period under review. This
followed the adverse impact of liquidity
constraints, coupled with the El Nino induced
drought, which have resulted in subdued
economic activity.

Consequently, the mainstream index declined by
2.18%, to close at 98.84 points in July 2016. The
resources index, however, increased by 4.05% to
close at 25.72 points in July 2016, from 24.70
points in June 2016.


The volume of shares traded at the ZSE fell by
35.36%, from 88 525 472 shares recorded in the
preceding month to 57 222 624 shares in July
2016.

Market turnover registered a 34.44% decline,
from US$18.06 million in June 2016 to
US$11.84 million in July 2016. This partly
reflected thin trading on the ZSE due to bearish
investor sentiment.

Foreign investors remained skeptical about
Zimbabwe’s investment climate and this resulted
in
significant
disinvestments
in
heavily
capitalised counters. In consequence, net foreign
capital outflows increased from US$4.5 million
in June 2016, to US$5.2 million in July 2016.


Source: Zimbabwe Stock Exchange, 2016
Market capitalisation fell by 0.36%, from
US$2.78 billion in the previous month to
US$2.77 billion in July 2016, on account of

31-Jul-15
31-Aug-15
30-Sep-15
31-Oct-15
30-Nov-15
31-Dec-15
31-Jan-16
29-Feb-16
31-Mar-16
30-Apr-16
31-May-16
30-Jun-16
31-Jul-16
Figure 1: ZSE Indices
Industrial
Mining

Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
VALUES TRADED (US$ MILLIONS)
VOLUMES TRADED (MILLIONS)
Figure 2: ZSE: Monthly Volumes
Figure 2: ZSE: Monthly Volumes and Values Tra
and Values Traded
Volume
Turnover
Source: Zimbabwe Stock Exchange, 2016


MONTHLY ECONOMIC REVIEW

losses in the mainstream index. Cumulatively,
the market lost US$1.1 billion during the period
end July 2015 to end July 2016.
MONETARY DEVELOPMENTS

The annual broad money supply growth rate
increased by 1.71 percentage points to 14.84% in
July 2016, from 13.13% in June 2016. Growth in
money supply was partly underpinned by
tobacco related foreign exchange inflows. As at
end July 2016, US$558.41 million had been
realised from the sale of 190.05 million
kilograms of tobacco.


Source: Reserve Bank of Zimbabwe, 2016
Annual growth in money supply was on the back
of increases in demand and savings deposits
which stood at 31.96% and 25.95%, respectively.
Partially offsetting these increases were declines
of 15.21% and 4.40% in under 30-days and over
30-days deposits, respectively.

In terms of proportions, demand deposits
constituted 53.8% of total deposits; followed by
over 30-days deposits, 19.4%; under 30-days
deposits, 14.3%; and savings deposits, 12.5%.

On a month-on-month basis, broad money supply
declined by 0.05%, from US$5 140.7 million in
June 2016 to close the month of July 2016 at
US$5 138.0 million.


Banking sector credit recorded a 15.2% annual
increase, from US$4 999.4 million in July 2015
to US$5 759.4 million in July 2016.

Monthly credit to the private sector decreased by
2.3%, from US$3 571.6 million in June 2016 to
US$3 488.30 in July 2016. Banks continued to
-2


Oct-13
Jan-14
Apr-14
Jul-14
Oct-14
Jan-15
Apr-15
Jul-15
Oct-15
Jan-16
Apr-16
Jul-16
%
US$ BILLIONS
Figure 3: Money Supply
Figure 3: Money Supply
M3
M3 Annual Growth rate
Under 30
Days
12.5%
Over 30
Days
19.4%
Demand
53.8%
savings
14.3%Figure 4: Bankin
Figure 4: Banking Sector Deposits July 2016
Deposits July 2016
Source: Reserve Bank of Zimbabwe, 2016


MONTHLY ECONOMIC REVIEW

reduce lending due to the difficult economic
environment and high levels of non-performing
loans.

In proportions, credit to the private sector was in
the form of loans and advances, 86.1%;
mortgages, 9.8%; other investments, 3.8%;
bankers’
acceptances,
0.3%;
and
bills
discounted, 0.1%.

Source: Reserve Bank of Zimbabwe, 2016

During the period under review, outstanding
credit to the private sector was distributed as
follows: households, 24.4%; agriculture, 18.7%;
services,
18.3%;
manufacturing,
15.8%;
distribution, 10.8%; mining, 5.3%; financial
organisations and investments, 2.8%; transport
and communications, 2.0%; construction, 1.6%;
and other, 0.4%.
The credit was utilised as follows: working
capital, 34.3%; inventory build-up, 32.7%;
consumer
durables,
16.0%;
fixed
capital
investment, 15.3%; and pre and post shipment
financing, 1.8%.
INFLATION OUTTURN

Annual Inflation

Annual headline inflation stood at -1.6% in
July 2016, representing a deceleration of
0.2 percentage points from the June 2016 rate of
-1.4%. This was largely on account of a decline
in non-food inflation.

Source: ZIMSTAT, 2016
Loans & Advances
86.1%
Bills
Discounted
0.1%
Bankers
acceptances
0.3%
Other
investments
3.8%
Mortgages
9.8%Figure 5: Credit to Private Sector
Figure 5: Credit to Private Sector July 2016
July 2016


Figure 6: Annual Inflation
(%)
Headline Inflation
Food
Non Food


MONTHLY ECONOMIC REVIEW

Annual food inflation firmed to -3.8% in
July 2016, from -4.0% recorded in June 2016.
The 0.2 percentage points increase was largely
attributable to increases in prices of bread and
cereals; sugar; jam; honey and fish and sea food.

Year-on-year, non-food inflation decelerated
from -0.1% in June 2016 to -0.6% in July 2016.
This was mainly on account of declines in
furniture and household equipment; transport;
housing; water; electricity; gas and other fuels; as
well as clothing and footwear categories. The
declines were, however, partially offset by
increases in education.

Monthly Inflation


Month-on-month inflation moved into negative
territory, shedding 0.38 percentage points to
close at -0.19% in July 2016. This followed
declines in both food and non-food inflation.

Food inflation fell from -0.35% in June 2016 to
-0.52% in July 2016, due to declines in prices of
vegetables; meat; and milk, cheese and eggs;
among other items. Partially offsetting the
declines was a 0.78% increase in oils and fats.

Non-food inflation decelerated from 0.44% in
June 2016 to -0.03% in July 2016. This was
largely
attributable
to
declines
in
communication; clothing and footwear; health;
and transport, among others.
NATIONAL PAYMENTS SYSTEM

Transactions processed through the National
Payment System (NPS) recorded a 9% decline,
from US$6 948.80 million in June 2016, to close
the month of July 2016 at US$6 319.33 million.
Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of RTGS transactions registered a 13%
decline, from US$4 522.24 million in the
previous month, to US$3 911.78 million during
the month under review. RTGS transaction
volumes also fell from 268 192 in June 2016 to
242 373 in July 2016.

Source: Reserve Bank of Zimbabwe, 2016


Jul-13
Nov-13
Mar-14
Jul-14
Nov-14
Mar-15
Jul-15
Nov-15
Mar-16
Jul-16
-

VALUE IN US$ BILLIONS
VOLUME IN THOUSANDS
Figure 7: Z
Figure 7: ZETSS Volumes and Values
Values
Volume
Value


MONTHLY ECONOMIC REVIEW

Cash transactions

During the month of July 2016 cash transactions
decreased by 2% to US$530.60 million in July
2016, from US$543.94 million in June 2016.

Mobile and Internet Based Transactions

Mobile and internet based transaction values rose
from US$639.19 million as at end June 2016, to
close
the
month
of
July

at
US$709.26 million.

Card Based Transactions

Card
based
transactions
stood
at
US$406.35 million as at the end of July 2016, up
from US$335.40 million in June 2016.

Cheque Transactions

The value of cheque transactions recorded a 10%
decline, from US$10.26 million registered in
June 2016, to close the month under review at
US$9.20 million.

RESERVE BANK OF ZIMBABWE
SEPTEMBER 2016

MONTHLY ECONOMIC REVIEW
Statistical Tables

1. Monetary Statistics

1.1 Monetary Aggregates

1.2 Broad Money Survey

1.3 Analysis of Monthly Changes in Money Supply

1.4 Analysis of Yearly Changes in Money Supply

2. Sectoral Analysis of Bank Loans and Advances and Deposits

2.1 Sectoral Analysis of Commercial Banks Loans and Advances 13

2.2 Sectoral Analysis of Commercial Banks Deposits

3. External Statistics

3.1 Total External Debt Outstanding by Debtor

4. Interest Rates

4.1 Lending Rates

4.2 Banks Deposit Rates

5. Inflation

5.1 Monthly Inflation

5.2 Yearly Inflation

6. Exchange Rates

7. Commercial Banks

7.1 Assets

7.2 Liabilities

MONTHLY ECONOMIC REVIEW

8. Merchant Banks

8.1 Assets

8.2 Liabilities

9. Building Societies

9.1 Assets

9.2 Liabilities

10. Zimbabwe Stock Exchange Statistics

11. Savings with Financial Institutions

12. Analysis of Liquid Assets of Monetary Banks

13. ZETSS, Cheques and Cards Activity


13.1 Values of Transactions

13.2 Volumes of Transactions

MONTHLY ECONOMIC REVIEW


July
August
September
October
November
December
January
February
March
April
May
June
July
Bond Coins

RBZ Demand Deposits

Comm. Banks Dem. Deposits

Merchant Banks Dem. Deposits

M1

Comm. Banks Savings Deposits

Building Soc. Savings Deposits

P O S B Savings Deposits

Comm. Banks U-30 Day Deposits

Merchant Banks U-30 Day Deposits

Building Soc. U- 30 Day Deposits

M2

Comm. Banks O-30 Day Deposits

Merchant Banks O-30 Day Deposits

Building Soc. O- 30 Day Deposits

Building Soc. Other Share Deposits

P O S B Time Deposits

M3

Source:Reserve Bank of Zimbabwe, 2016

TABLE 1.1 : MONETARY AGGREGATES
US$ Thousands


MONTHLY ECONOMIC REVIEW

JULY
AUGUST
SEPT
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUNE
JULY
NET FOREIGN ASSETS

Assets

Reserve Bank (RBZ)

Deposit Money Banks (DMBs)

Other Banking Institutions (OBIs)

Liabilities \2

RBZ

DMBs

OBIs

NET DOMESTIC ASSETS

DOMESTIC CREDIT

Claims on Government (net)

RBZ

DMBs

OBIs

Claims on Public Enterprises

RBZ

DMBs

Agri-PEs

Other

OBIs

Claims on Private Sector

RBZ

DMBs

OBIs

OTHER ITEMS (NET)

BROAD MONEY (M3)

Source:Reserve Bank of Zimbabwe, 2016
1. Building societies and P. O. S. B.
2. Sign reversal.

TABLE 1.2 : BROAD MONEY SURVEY
US$ Thousands


MONTHLY ECONOMIC REVIEW

JULY
AUGUST
SEPT
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUNE
JULY
NET FOREIGN ASSETS

Assets

Reserve Bank (RBZ)

Deposit Money Banks (DMBs)

Other Banking Institutions (OBIs) \1

Liabilities \2

RBZ

DMBs

OBIs

NET DOMESTIC ASSETS \3

DOMESTIC CREDIT

Claims on Government (net)

RBZ

DMBs

OBIs

Claims on Public Enterprises

RBZ

DMBs

Agri-PEs

Other

OBIs

Claims on Private Sector

RBZ

DMBs

OBIs

OTHER ITEMS (NET)

BROAD MONEY (M3)

Broad Money (M3)

Domestic Credit

Claims on Private Sector

Source:Reserve Bank of Zimbabwe, 2016
1. Finance houses, building societies and P. O. S. B.
2. Sign reversal.
3. Net Domestic Assets consist of domestic credit and other items net.

TABLE 1.3 : ANALYSIS OF MONTHLY CHANGES IN MONEY SUPPLY (M3)
US$ Thousands


MONTHLY ECONOMIC REVIEW

JULY
AUGUST
SEPT
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUNE
JULY
NET FOREIGN ASSETS

Assets

Reserve Bank (RBZ)

Deposit Money Banks (DMBs)

Other Banking Institutions (OBIs) \1

Liabilities \2

RBZ

DMBs

OBIs

NET DOMESTIC ASSETS \3

DOMESTIC CREDIT

Claims on Government (net)

RBZ

DMBs

OBIs

Claims on Public Enterprises

RBZ

DMBs

Agri-PEs

Other

OBIs

Claims on Private Sector

RBZ

DMBs

OBIs

OTHER ITEMS (NET)

BROAD MONEY (M3)

GROWTH RATES
Broad Money (M3)

Domestic Credit

Claims on Private Sector

Source:Reserve Bank of Zimbabwe, 2016
1. Finance houses, building societies and P. O. S. B.
2. Sign reversal.
3. Net Domestic Assets consist of domestic credit and other items net.
$ Thousands

TABLE 1.4 : ANALYSIS OF YEARLY CHANGES IN MONEY SUPPLY (M3)

MONTHLY ECONOMIC REVIEW


AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATE
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Source:Reserve Bank of Zimbabwe,2016
/1 Including the only merchant bank still in operation.
TABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1
US$ Thousands


MONTHLY ECONOMIC REVIEW

END OF
AGRICULTURE CONSTRUCTION
COMMUNICATIONS
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
INVESTMENTS ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Source: Reserve Bank of Zimbabwe,2016
/1 Including the only merchant bank still in operation.
TABLE 2.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
US$ Thousands


MONTHLY ECONOMIC REVIEW

End Period

(US$ millions)
Long-Term External Debt

Government

Bilateral Creditors


Multilateral Creditors

Private Creditors

Public Enterprises


Bilateral Creditors

1,155

Multilateral Creditors

Private Creditors

Monetary Authorities

Multilateral Creditors - IMF

Private

1,002
2,261
1,913
Short-Term External Debt

1,198
1,382
1,289

1,564
2,394
2,258
Supplier's Credits

Reserve Bank

Private

1,807
1,671
Total External Debt

Source: Ministry of Finance & Economic Development, 2016; & Reserve Bank of Zimbabwe, 2016
TABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)

MONTHLY ECONOMIC REVIEW


End Period
Nominal Lending Rates2
Individuals
Corporate

Jan
6.00-35.00
14.16
9.66
Feb
4.30-33.50
14.00
9.73
Mar
4.30-33.50
13.24
8.75
Apr
4.30-31.00
12.71
8.84
May
5.00-31.00
12.74
8.79
Jun
5.00-31.00
11.94
8.42
Jul
5.00-31.00
11.86
8.56
Aug
4.30-26.00
11.96
8.51
Sep
4.30-25.00
11.81
8.47
Oct
4.00-18.00
10.98
7.28
Nov
4.00-16.25
12.20
7.67
Dec
6.00-16.00
11.99
7.57

Jan
6.00-22.00
12.08
7.38
Feb
4.00-22.00
11.48
7.29
Mar
4.00-22.00
11.44
7.16
Apr
4.00-22.00
11.50
7.20
May
4.00-18.00
11.43
7.35
June
4.00-18.00
11.40
7.48
July
4.00-18.00
10.69
6.79
Source:Reserve Bank of Zimbabwe, 2016
Notes
3. Lending rates exclude rates on staff loans.
TABLE 4.1 LENDING RATES (percent per annum)1
2. Nominal Lending Rates depict the range of rates quoted by banks.
Commercial Banks
Weighted Average Lending Rates 3
1. Table revised, to separate weighted lending rates for individuals and corporate bodies.


MONTHLY ECONOMIC REVIEW

END OF
SAVINGS
3 MONTHS

Jan
0.15-8.00
3.00-17.00
Feb
0.50-12.00
1.00-17.00
Mar
0.50-12.00
1.00-17.00
Apr
0.30-8.00
1.00-17.00
May
0.30-8.00
1.00-17.00
Jun
0.30-8.00
1.00-17.00
Jul
0.30-8.00
1.00-15.00
Aug
0.30-8.00
1.00-15.00
Sep
0.30-8.00
1.00-16.00
Oct
0.50-8.00
1.00-17.00
Nov
0.75-8.00
1.00-17.00
Dec
0.50-8.00
0.75-17.00

Jan
0.50-8.00
0.75-17.00
Feb
0.50-8.00
0.75-17.00
Mar
0.50-8.00
0.75-17.00
Apr
0.50-8.00
0.75-17.00
May
0.50-8.00
0.75-17.00
June
0.50-6.00
0.75-17.00
July
0.50-6.00
0.75-17.00
Source:Reserve Bank of Zimbabwe, 2016
* The range of rates qouted by banks during the period.
TABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)*
COMMERCIAL BANKS

MONTHLY ECONOMIC REVIEW


FOOD
INFLATION
ALL
ALCOHOLIC
BEVERAGES
CLOTHING
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNICATION
RECREATION
&
EDUCATION
RESTAURANTS
&
MISC.
TOTAL NON
FOOD &
ITEMS
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
FOOD
NON
ALCOHOLIC
BEVERAGES
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Source:Zimstat, 2016
NON-FOOD INFLATION
TABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX
( DECEMBER 2012 = 100)


MONTHLY ECONOMIC REVIEW

FOOD
IN FLA TION
A LL
A LC OHOLIC
B EV ER A GES
C LOTHIN G
HOU S IN G,
WA TER ,
FU R N ITU R E
HEA LTH
TR A N S POR T
C OM M U N IC A TION
R EC R EA TION
&
ED U C A TION
R ES TA U R A N TS
&
M IS C .
TOTA L N ON
FOOD &
ITEM S
& TOB A C C O
& FOOTWEA R
ELEC TR IC TY ,
GA S
A N D
C U LTU R E
HOTELS
GOOD S &
FOOD
N ON
A LC OHOLIC
B EV ER A GES
& OTHER
EQU IPM EN T
S ER V IC ES
FU ELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Source: Zimstat, 2016
N ON - FOOD IN FLA TION
TABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \1
(DECEMBER 2012 = 100)

MONTHLY ECONOMIC REVIEW
SA
BW
JAPANESE
EUROPEAN
POUND
END OF
RAND/1
PULA/1
YEN/1
CURRENCY/2
STERLING/2

JAN

FEB

MAR

APR

MAY

JUNE

JULY

AUG

SEPT

OCT

NOV

DEC


JAN

FEB

MAR

APR

MAY

JUNE

JULY

Source: Reserve Bank of Zimbabwe, 2016
TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES
1. Foreign currency per US Dollar.
2. US Dollar per unit of foreign currency.

MONTHLY ECONOMIC REVIEW


Foreign
Loans &
Contigent
Other
Non Financial
TOTAL
End of
Notes
Total
Other Balances
Advnces
Assets
Assets
Assets
&
Balances
Balances
Balances
with RBZ
Bond
Coin
with
with Other
at
Trade
Treasury
Agric PEs
Coins
at Banks
RBZ
Banks
Foreign Banks
Bills
Bills

Jan


21.4
2,796.76


Feb


17.9
2,792.50


Mar


15.5
2,925.46


Apr


18.2
2,967.13


May


18.2
2,922.70


Jun


28.8
2,872.55


Jul


28.8
2,815.04


Aug


28.8
2,810.06


Sep


28.0
2,844.13


Oct


26.7
2,884.16


Nov


26.6
2,931.49


Dec


20.8
2,820.54


Jan


20.6
2,763.7


Feb


20.1
2,680.9


Mar


20.3
2,690.6


Apr


20.4
2,653.4


May


19.8
2,681.8


June


19.7
2,669.3


July


20.5
2,567.9


Source:Reserve Bank of Zimbabwe, 2016
Liquid Assets
TABLE 7.1: COMMERCIAL BANKS - ASSETS
Securities
US$ Millions


MONTHLY ECONOMIC REVIEW

Deposits
Capital
Contigent
Other
Total
Of which
and
Liablities
Liablities
Liabilities to the
End of
Demand
Savings and Short-term
Long-term
Total
Foreign Liabilities
RBZ
Other Banks
Reserves
Public

Jan
2,056.2

996.2
561.7
3,614.0


3,614.0

Feb
2,079.6

876.1
611.6
3,567.3


3,567.3

Mar
2,139.3

940.4
513.3
3,593.0


3,593.0

Apr
2,098.7

943.5
629.8
3,672.0


3,672.0

May
2,131.8

1015.3
615.3
3,762.4


3,762.4

Jun
2,213.2

1021.9
593.5
3,828.7


3,828.7

Jul
2,166.4

889.7
732.5
3,788.6


3,788.6

Aug
2,266.7

790.9
723.1
3,780.7


3,780.7

Sep
2,276.7

967.6
648.7
3,892.9


3,892.9

Oct
2,259.9

909.3
667.8
3,837.0


3,837.0

Nov
2,475.9

919.4
580.1
3,975.4


3,975.4

Dec
2,512.2

999.0
543.0
4,054.2


4,054.2

Jan
2,562.6

952.2
558.7
4,073.5


4,073.5

Feb
2,545.7

959.3
572.0
4,077.1


4,077.1

Mar
2,653.7

893.4
680.0
4,227.1


4,227.1

Apr
2,675.3

1008.1
591.9
4,275.3


4,275.3

May
2,764.6

1100.0
449.7
4,314.3


4,314.3

June
2,865.3

907.1
673.1
4,445.5


4,445.5

July
2,826.1

993.3
654.3
4,473.7


4,473.7

Source:Reserve Bank of Zimbabwe, 2016
TABLE 7.2: COMMERCIAL BANKS - LIABILITIES
US$ Millions
Amounts Owing to


MONTHLY ECONOMIC REVIEW

Foreign
Loans &
Contigent
Other
Non Financial
TOTAL
End of
Notes
Total
Other Balances
Advnces
Assets
Assets
Assets
Bond
&
Balances
Balances
Balances
Liquid
with RBZ
Coins
Coin
with
with Other
at
Trade
Treasury
Agris Pes
Assets
at Banks
RBZ
Banks
Foreign Banks
Bills
Bills

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Source:Reserve Bank of Zimbabwe, 2016
US$ Millions
TABLE 8.1 : ACCEPTING HOUSES - ASSETS
Liquid Assets
Securities


MONTHLY ECONOMIC REVIEW

Of which
Deposits
Capital
Contigent
Other
Total
Liabilities to the
and
Liablities
Liablities
Public
End of
Demand
Savings and Short-term
Long-term
Total
Foreign Liabilities
RBZ
Other Banks
Reserves

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Source:Reserve Bank of Zimbabwe, 2016
Amounts Owing to
TABLE 8.2 : ACCEPTING HOUSES - LIABILITIES
US$ Millions


MONTHLY ECONOMIC REVIEW

Foreign
Mortgage
Other
Other
Non Financial
TOTAL
End of
Notes
Total
Other Balances
Advances
Advances
Assets
Assets
&
Balances
Nostro
with RBZ/1
Bond
Coin
with Other
Balances
Trade
Treasury
Agris Pes
Coins
at Banks
Banks
Bills

Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Jan


Feb


Mar


Apr


May


June


July


Source:Reserve Bank of Zimbabwe, 2016
Liquid Assets
Securities
TABLE 9.1 : BUILDING SOCIETIES - ASSETS
US$ Millions


MONTHLY ECONOMIC REVIEW

Of which
Capital
Other
Total
Liabilities to the
and
Liabilities
Public
End of
Savings and Short-term
Long-term
Total
Foreign Liabilities
Other Banks
Reserves

Jan


770.2
Feb


806.2
Mar


794.4
Apr


828.9
May


863.6
Jun


836.8
Jul


828.9
Aug


824.5
Sep


833.2
Oct


893.7
Nov


920.4
Dec


944.4

Jan


890.7
Feb


888.6
Mar


882.8
Apr


875.9
May


859.2
May


859.2
June


907.0
July


907.3
Source:Reserve Bank of Zimbabwe, 2016
Deposits
TABLE 9.2 : BUILDING SOCIETIES - LIABILITIES
US$ Millions
Amounts Owing to

MONTHLY ECONOMIC REVIEW


Market Capitalisation
Industrial
Mining
Market Turnover(US$)
Volume of Shares
US$ Millions

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Source:Zimbabwe Stock Exchange (ZSE),2016
Indices
Table 10: ZIMBABWE STOCK MARKET STATISTICS


MONTHLY ECONOMIC REVIEW

Commercial
Building
End of
Banks
P.O.S.B.
Societies
TOTAL

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Source:Reserve Bank of Zimbabwe, 2016
1/ Comprises all deposits other than demand deposits.
TABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS
US$ Millions


MONTHLY ECONOMIC REVIEW

Liquid
Prescribed
Excess
Liquid
Prescribed
Excess
assets
liquid
liquid
assets
liquid
Liquid
End of
held
assets/1
assets
held
assets/1
assets

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Source:Reserve Bank of Zimbabwe, 2016
1/With effect from 1 August 2011, the prescribed liquid asset ratio was reviewed from 20% to 25% of liabilities to the public.
US$ Millions
TABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS
Commercial Banks
Accepting Houses


MONTHLY ECONOMIC REVIEW

MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep
3,762.7


Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Source:Reserve Bank of Zimbabwe, 2016
TABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY
Values of Transactions (US$ millions)


MONTHLY ECONOMIC REVIEW

MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Annual Total 2,062.6
361.73
14,543.3 13,413.3 228,723.3
560.2

Jan

Feb

Mar

Apr

May

June

July

Source:Reserve Bank of Zimbabwe, 2016
TABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL
Volumes of Transactions (in thousands)