MONTHLY ECONOMIC REVIEW
FEBRUARY 2014
Selected Economic Indicators

Stock Market Developments

Inflation

National Payments System

Statistical Tables

Monetary Developments

INSIDE THIS ISSUE

PAGE
SELECTED ECONOMIC INDICATORS

January

February
Z.S.E. Mining Index1
35.40
39.24
Z.S.E. Industrial Index1
189.25
189.45
Money Supply (Total Bank Deposits) (US$)2
3.89 billion
4.02 billion
Money Supply (M3) Annual Growth2
2.11%
5.46%
Yearly Inflation3
0.41%
-0.49%
Sources:
1 Zimbabwe Stock Exchange
2 Reserve Bank of Zimbabwe
3 ZIMSTAT


Month on
Month
Change


STOCK MARKET DEVELOPMENTS

Global risk appetite was on a rise in February
2014 underpinned by better than expected
earnings in most United States companies.
This was so despite weak economic data
being recorded in the US economy. With the
exception of the Nigerian Stock Market,
which registered a decline largely due to
declines in banking counters, most African
stock markets, including the Zimbabwe
Stock Exchange (ZSE) registered positive
performance in the period under review.

The key industrial index broke its declining
trend and recovered by a marginal 0.11%
between January and February 2014, ending
February at 189.45 points, compared to
189.25 points in January. On a year to date
basis, however, the industrial index lost
6.21%.

The mining index also recovered, to close
the month under review at 39.24 points, up
from 35.40 points in January. This increase
reflected a 10.85% month-on-month gain,
against a year-to-date loss of 14.30%.

The volume of shares traded declined by
16.29%, from 162.64 points in January 2014
to 136.16 points in February 2014. Total
turnover also declined by 55.33%, due to the
absence of special bargain deals, to close the
month under review at US$25.82 million.

Market capitalization rose by 0.51% to
US$4.91 billion, at the end of February


Values Traded (US$ Millions)
Volumes Traded (Millions)
ZSE: Daily Volumes and Values
Traded
Volume
Turnover

28-Mar-12
28-Apr-12
28-May-12
28-Jun-12
28-Jul-12
28-Aug-12
28-Sep-12
28-Oct-12
28-Nov-12
28-Dec-12
28-Jan-13
28-Feb-13
28-Mar-13
28-Apr-13
28-May-13
28-Jun-13
28-Jul-13
28-Aug-13
28-Sep-13
28-Oct-13
28-Nov-13
28-Dec-13
28-Jan-14
28-Feb-14
ZSE Indices
Industrial
Mining

2 4
2014, from US$4.89 billion at the close of
January 2014.


MONETARY DEVELOPMENTS

The sluggish performance of the economy
continued to hamper robust growths rates in
the broad money. The main sources of
liquidity under the multicurrency system are
exports, external lines of credit and Diaspora
remittances, given that the Central Bank
cannot inject liquidity into the economy.
These have not managed to generate enough
liquidity to support economic activity and
achieve desirable levels of money supply
growth.
Consequently, broad money registered a
modest 5.46% annual growth in February
2014, compared to 12.91% over the same
period last year. This reflected an increase
of US$208.96 million in broad money, from
US$3 813.62 million in February 2013, to
US$4 021.78 million in February 2014. The
growth in broad money was sustained by an
expansion in aggregate deposits during the
period under review.
Supported
largely
by
inflows
from
parastatals and partly reflecting limited
alternative low risk investments, long term
deposits registered a 33.75% annual growth
during the period under review. Over the
same period, demand and savings deposits


US$ Billions
%
Money Supply
M3
M3 Annual Growth
Under 30day, 18.8
%
Longterm
, 18.8%
Demand, 5
0.3%
Savings, 1
2.1%
Banking Sector Deposits
February 2014

3 5
recorded annual growths of 2.21% and
16.19%, respectively. Maturities in short
term deposits resulted in this class of
deposits declining by 11.07%, during the
period of analysis.

On the sources side, annual broad money
growth was mainly driven by bank credit to
Government during the period under review.
This was largely due to the Government’s
aggressive issuance of Treasury Bills and
bonds through private placements.

These instruments are of varied tenors,
ranging from 92 days to 1 461 days.
Unanticipated
declines
in
Government
deposits also worsened the net credit to
Government position. On an annual basis,
Government deposits declined by 89.35% in
December 2013, 3.60% in January 2014 and
0.89% in February 2014. Net credit to Government consequently rose from US$153.16
million in February 2013 to US$415.05 million by February 2014.

Growth in commercial banks’ credit to the
private sector fell significantly, from an
annual growth of 28.77% in February 2013 to
1.50% in February 2014. Tighter credit
policies, as a result of rising nonperforming
loans, as well as a slowdown in the growth of
the deposit base, resulted in a slump in private
sector credit developments.

Claims on the private sector were in the form
of loans and advances, 78.22%; mortgages
advanced by building societies, 10.64%; bills
discounted, 2.08%; bankers’ acceptances,
1.54%; and other investments, 7.53%.

The outstanding loans and advances were
mainly to households (19.40%); agriculture
(19.26%); distribution (17.34%); and services
(15.29%).

Credit to the private sector was mainly utilized for asset purchases (42.88%) as well as
inventory build-up (34.12%). Loans and advances utilized for fixed investment activity
have remained low, with the procurement of
plant and equipment accounting for 3.82%
and pre and post shipment financing at 0.83%,
of total loans and advances.


Loans and
Advances
78%
Bills
Discounte
d
2%
Bankers
Acceptanc
es
2%
Mortgages
11%
Other
Investmen
ts
7%
Credit to Private Sector
Total credit to the private sector as at the end of
February 2014 was US$3 626.99 million.

INFLATION DEVELOPMENTS

Annual Inflation

The annual headline inflation decelerated to
-0.49% in February, from 0. 41% in January
2014, marking the onset of a deflationary
economic environment. The decline was on
account of a slowdown in both food and
non-food inflation.
Annual food inflation slowed down to
-3.26% in February, from -2.08% in January
2014, while non-food inflation also receded
to 0.93% from 1.67% during the same
period.
The decrease in annual food inflation was
largely driven by sugar, jam, honey,
chocolate and confectionery, vegetables,
meat, fruits and mineral waters, soft drinks
and fruit juices, fish and sea food, milk,
cheese and eggs; oils and fats, as well as
bread and cereals sub-categories.
Annual non-food inflation was driven by
education; housing, water, electricity, gas
and other fuels; hotels and restaurants;
transport; alcoholic beverages and tobacco;
and health services. The decline in annual
non-food inflation can be attributed to the
decreases in communication, recreation and
culture,
and
furniture
and
equipment
inflation.

Month-on-Month Inflation
Month-on-month inflation declined by 0.1
percentage points to 0.05%, from the January
2014 rate of 0.14%, following decreases in
the prices of food and non-alcoholic
beverages.
Monthly food inflation stood at 0.18% in
February, down from 0.44% in January 2014.
Decreases were recorded for sugar, jam,
honey, chocolate and confectionery, oils and
fats, and mineral waters, soft drinks and fruit
juices items.
Monthly non-food inflation was -0.01% in
February, up from -0.08% in January 2014.


Dec-11
Feb-12
Apr-12
Jun-12
Aug-12
Oct-12
Dec-12
Feb-13
Apr-13
Jun-13
Aug-13
Oct-13
Dec-13
Feb-14
Annual Inflation
(%)
Headline Inflation
Food
Non Food

Declines in the prices of water, electricity,
gas and other fuels as well as furniture and
equipment depressed non-food inflation in
February 2014.

Inflation Outlook

The rise in international oil prices from an
average of US$107.44 per barrel in January
to about US$108.69 per barrel in February
2014, if sustained, is expected to increase
inflationary pressures in the economy.
However, the expected bumper harvest
following a favorable agricultural season is
expected to exert downward pressure on food
prices from May 2014, with the effect of
further reducing inflation.

NATIONAL
PAYMENTS
SYSTEM
DEVELOPMENTS

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through
the
RTGS
system
in
February

decreased by 4% to US$3 billion, from
US$3.1 billion in January 2014, while the
volume of transactions also registered a
decrease of 4% from 182 479 to 175 092 in
the same period.
Card Systems
The total value of card based transactions
decreased by 13.48% to US$290.17 million in
February 2014, from US$335.36 million in
January 2014.
Mobile and Internet Based Transactions

The value of mobile and internet based
transactions decreased by 5.06%, from


Oct-11
Jan-12
Apr-12
Jul-12
Oct-12
Jan-13
Apr-13
Jul-13
Oct-13
Jan-14
Value in US$ Billions
Volume in Thousands
ZETSS Volumes and Values
Value
Volume

US$296.56 million in January 2014 to
US$281.56 million in February 2014.
Cheques

The value of cheque transactions, however,
increased to US$10.73 million in February
2014, from US$5.24 million in January
2014.

Reserve Bank of Zimbabwe
March 2014

STATISTICAL TABLES
CONTENTS

Table


. 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 15

2.2 Sectoral Analysis of Merchant Banks Loans and Advances

2.3 Sectoral Analysis of Merchant Acceptances

2.4 Sectoral Analysis of Commercial Banks Deposits

2.5 Sectoral Analysis of Merchant 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

STATISTICAL TABLES
CONTENTS

Table


. Commercial Banks


7.1 Assets

7.2 Liabilities

8. Accepting Houses


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

January
February
March
April
May
June
July
August
September
October
November
December
January
February
RBZ Demand Deposits
78.6

78.3

77.3

78.6

74.5

73.0

73.5

71.9

72.8

73.3

72.6

71.9

69.7

71.1

Comm. Banks Dem. Deposits
1,924,517.4

1,875,465.4

1,860,664.0

1,979,220.0

1,932,968.1

1,874,568.0

1,926,968.4

1,901,793.3

1,952,024.0

1,971,838.8

1,821,288.9

1,825,413.5

2,039,955.9

1,974,493.8

Merchant Banks Dem. Deposits
106,935.2

102,797.7

104,281.4

107,324.1

112,173.4

114,560.5

111,261.1

109,449.6

111,153.9

112,536.2

122,639.2

134,494.8

36,792.2

47,555.9

M1
2,031,531.2

1,978,341.4

1,965,022.7

2,086,622.6

2,045,215.9

1,989,201.5

2,038,303.0

2,011,314.8

2,063,250.8

2,084,448.30

1,944,000.70

1,959,980.2

2,076,817.8

2,022,120.8

Comm. Banks Savings Deposits
193,007.6

192,683.5

201,459.2

194,873.4

221,622.3

229,386.7

201,667.8

187,394.4

227,599.9

209,966.7

201,724.6

281,785.8

215,665.0

230,541.1

Building Soc. Savings Deposits
159,093.7

168,605.4

168,484.1

170,975.7

192,634.8

189,753.8

195,606.6

189,953.1

191,553.5

187,410.7

200,415.2

204,200.7

196,806.6

195,707.7

P O S B Savings Deposits
55,832.5

56,274.2

57,860.7

55,236.9

56,544.5

60,117.8

60,162.5

51,322.2

58,974.0

50,457.7

60,845.4

62,044.0

58,314.5

58,920.4

Comm. Banks U-30 Day Deposits
632,215.7

708,500.6

734,849.5

786,076.0

637,041.1

629,544.6

663,617.3

643,559.0

606,360.8

614,427.6

605,429.9

489,493.1

552,134.9

596,106.0

Merchant Banks U-30 Day Deposits
91,671.2

65,975.9

62,324.3

64,604.1

67,104.2

56,223.1

82,650.4

80,569.1

82,581.6

80,368.8

59,721.1

56,379.8

47,277.8

48,250.7

Building Soc. U- 30 Day Deposits
60,885.9

77,091.9

82,098.1

81,944.4

122,672.1

119,217.4

121,325.5

99,842.7

138,431.2

113,495.4

118,360.9

155,932.2

107,130.3

112,927.5

M2
3,224,237.8

3,247,472.9

3,272,098.6

3,440,333.1

3,342,834.9

3,273,444.8

3,363,333.0

3,263,955.2

3,368,751.9

3,340,575.20

3,190,497.80

3,209,815.8

3,254,146.90

3,264,574.20

Comm. Banks O-30 Day Deposits
351,356.6

297,613.9

249,558.5

223,799.1

387,930.6

268,082.1

219,826.9

223,258.1

257,854.4

308,773.8

328,511.0

496,391.7

352,689.2

468,960.6

Merchant Banks O-30 Day Deposits
21,339.0

55,714.0

52,841.7

56,349.4

54,361.5

52,329.5

27,019.2

25,199.0

19,024.4

14,876.1

19,965.3

6,900.3

5,665.1

-

Building Soc. O- 30 Day Deposits
192,823.3

194,226.7

203,912.9

226,550.8

212,044.5

222,591.8

222,795.8

264,539.8

242,907.0

264,867.2

244,283.7

197,343.9

253,060.8

264,395.8

Building Soc. Other Share Deposits
10,141.6

10,141.6

11,266.6

11,266.6

11,266.5

11,266.6

11,266.6

11,266.6

11,266.6

11,266.6

11,266.6

11,266.6

11,266.6

11,266.6

P O S B Time Deposits
8,497.2

8,447.9

8,845.8

8,443.5

9,703.5

10,492.4

10,680.2

8,018.0

10,855.2

11,324.0

12,586.1

10,606.9

11,816.7

12,582.4

M3
3,808,395.5

3,813,616.9

3,798,524.1

3,966,742.5

4,018,141.5

3,838,207.3

3,854,921.7

3,796,236.7

3,910,659.4

3,951,682.90

3,807,110.40

3,932,325.1

3,888,645.3

4,021,779.6

TABLE 1.1 : MONETARY AGGREGATES
US$ Thousands

JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
JANUARY
FEBRUARY
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)


TABLE 1.2 : BROAD MONEY SURVEY
US$ Thousands
$

JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
JANUARY
FEBRUARY
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


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

JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
JANUARY
FEBRUARY
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


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

TABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES


US$ Thousands


AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL
&
FINANCIAL
MANUFACTURING
MINING
SERVICES TRANSPORT
INDIVIDUALS
CONGLOMERATES/1
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

JANUARY

FREBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY


FEBRUARY

1. These are large corporation with business operations covering across a number of sectors.
TABLE 2.2 :SECTORAL ANALYSIS OF MERCHANT BANKS LOANS AND ADVANCES


US$ Thousands


AGRICULTURE
CONSTRUCTION DISTRIBUTION
FINANCIAL
FINANCIAL
MANUFACTURING
MINING
SERVICES TRANSPORT INDIVIDUALS CONGLOMERATES
TOTAL
END OF


INVESTMENT ORGANISATIONS

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY


FEBRUARY


TABLE 2.3 :SECTORAL ANALYSIS OF MERCHANT BANKS ACCEPTANCES


US$ Thousands


AGRICULTURE
DISTRIBUTION
FINANCIAL
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
END OF


INVESTMENT ORGANISATIONS

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY


TABLE 2.4 : SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS


US$ Thousands


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


INVESTMENTS
ORGANISATIONS

JANUARY

FEBRUARY

MARCH

263’552.7

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY

MARCH


APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY


TABLE 2.5 : SECTORAL ANALYSIS OF MERCHANT BANKS DEPOSITS


US$ Thousands


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


INVESTMENTS
ORGANISATIONS

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY


FEBRUARY


TABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL


End Period

(US$ millions)


Long-Term External Debt


Government

Bilateral Creditors


Multilateral Creditors

Private Creditors

Public Enterprises

1,092
1,198
1,356
Bilateral Creditors

Multilateral Creditors

Private Creditors

Monetary Authorities

Multilateral Creditors - IMF

Private

1,002
Short-Term External Debt

1,198
1,382
1,289

1,564
Supplier's Credits

Reserve Bank

Private

Total External Debt


Gross Domestic Product

External Debt / GDP


SOURCE: Ministry of
Finance and Reserve Bank
of Zimbabwe

TABLE 4.1 LENDING RATES (percent per annum)1

Commercial Banks
Merchant Banks


Weighted Average Lending
Rates3

Weighted Average Lending
Rates3


End Period
Nominal
Lending
Rates2
Individuals
Corporate
Nominal
Lending
Rates2
Individuals
Corporate

Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Jan


Notes


1. Table revised, to separate weighted lending rates for individuals and corporate bodies.

2. Nominal Lending Rates depict the range of rates quoted by banks.
3. Lending rates exclude rates on staff loans.


Feb


TABLE 4.2 : BANKS DEPOSIT RATES (percent per annum)1


COMMERCIAL BANKS
ACCEPTING HOUSES


END OF
SAVINGS
3 MONTHS
3 MONTHS


20122


JANUARY
0.15-5.00
5.00-18.00
10.00-17.00
FEBRUARY
0.15-5.00
5.00-18.00
10.00-17.00
MARCH
0.01-12.00
5.00-20.00
7.00-17.00
APRIL
0.00-12.00
5.00-20.00
8.00-17.00
MAY
0.00-12.00
5.00-20.00
6.00-17.00
JUNE
0.00-12.00
5.00-20.00
6.00-17.00
JULY
0.00-12.00
5.00-20.00
6.00-17.00
AUGUST
0.00-12.00
5.00-20.00
6.00-17.00
SEPTEMBER
0.00-12.00
5.00-20.00
6.00-17.00
OCTOBER
0.00-12.00
5.00-20.00
6.00-17.00
NOVEMBER
0.15-8.00
4.00-20.00
6.00-17.00
DECEMBER
0.15-8.00
4.00-20.00
6.00-17.00

JANUARY
0.15-8.00
4.00-20.00
6.00-17.00
FEBRUARY
0.15-8.00
4.00-20.00
6.00-17.00
MARCH
0.15-8.00
4.00-20.00
8.00-12.00
APRIL
0.15-8.00
4.00-20.00
8.00-12.00
MAY
0.15-8.00
4.00-20.00
6.00-17.00
JUNE
0.15-8.00
4.00-20.00
6.00-17.00
JULY
0.15-8.00
3.00-20.00
6.00-17.00
AUGUST
0.15-8.00
3.00-20.00
6.00-17.00
SEPTEMBER
0.15-8.00
3.00-20.00
11.00-12.00
OCTOBER
0.15--8.00
3.00-20.00
11.00-12.00
NOVEMBER
0.15--8.00
3.00-20.00
11.00-12.00


1.
The range of rates qouted by banks during the period.
2.
Three (3) months deposit rates revised to exclude rates on inactive or dormant
accounts.


DECEMBER
0.15--8.00
3.00-20.00
11.00-12.00

JANUARY
0.15--8.00
3.00-20.00
11.00-12.00
FEBRUARY
0.15--8.00
3.00-20.00
11.00-12.00

TABLE 5.1 : MONTHLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \1
( DECEMBER 2012 = 100)
1. Source: ZIMSTATS. To reflect changing expenditure
patterns, ZIMSTAT introduced a revised CPI basket and
rebased CPI figures to December 2012=100.

NON-FOOD INFLATION
FOOD
INFLATION
ALL

ALCOHOLIC
BEVERAGES
CLOTHING
HSING,
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


JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY


FEBRUARY


TABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX \1
(DECEMBER 2012 = 100)
1. Source: ZIMSTATS. To reflect changing expenditure
patterns, ZIMSTAT introduced a revised CPI basket and
rebased CPI figures to December 2012=100.

NON-FOOD INFLATION
FOOD
INFLATION
ALL

ALCOHOLIC
BEVERAGES
CLOTHING
HSING,
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


MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY


FEBRUARY


TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES


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

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY


1. Foreign currency per US Dollar.


2. US Dollar per unit of foreign currency.

TABLE 7.1: COMMERCIAL BANKS - ASSETS


US$ Millions


Liquid Assets


Securities


Loans & Contingent
Other
Non Financial
Total
End of
Notes


Total
Other Balances Advances
Assets
Assets
Assets
Assets

&
Balances
Balances
Balances


Liquid
with RBZ


Coin
with
with Other
at
Trade
Treasury Agric PEs
Assets


at Banks
RBZ
Banks
Foreign
Banks
Bills
Bills

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug.

Sep

Oct

Nov

Dec


Jan

Feb


TABLE 7.2: COMMERCIAL BANKS - LIABILITIES
US$ Millions


Deposits


Amounts Owing to
Capital
Contingent
Other
Total
Of which


and
Liabilities Liabilities Liabilities Liabilities
to the
End of
Demand
Savings and
Short-term
Long-term
Total
Foreign
Liabilities
RBZ
Other Banks Reserves


Public


Deposits

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb


TABLE 8.1 : ACCEPTING HOUSES - ASSETS
US$ Millions


Liquid Assets


Loans & Contingent
Other
Non Financial
Total
End of
Notes


Total
Other
Balances Advances
Assets
Assets
Assets
Assets

&
Balances Balances Balances


Liquid
with RBZ


Coin
with
with Other
at
Trade
Treasury
Assets


at Banks
RBZ
Banks
Foreign
Banks
Bills
Bills

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb


TABLE 8.2 : ACCEPTING HOUSES - LIABILITIES
US$ Millions


Of which


Deposits


Amounts Owing to
Capital
Contingent
Other
Total
Liabilities to the


and
Liabilities
Liabilities
Liabilities
Public
End of Demand Savings and
Short-term
Long-term
Total
Foreign
Liabilities
RBZ
Other
Banks
Reserves


Deposits

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb


TABLE 9.1 : BUILDING SOCIETIES - ASSETS
US$ Millions


Liquid Assets


Notes
Balances
Trade
Treasury
Total
Mortgage
Other
Other
Non Financial
Total
End of
&
with Other
Bills
Bills
Liquid
Advances
Advances
Assets
Assets
Assets

Coin
Banks


Assets


at Banks

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb


TABLE 9.2 : BUILDING SOCIETIES - LIABILITIES
US$ Millions


Of which

Deposits
Capital
Other
Total
Liabilities to the


and
Liabilities
Liabilities
Public
End of
Savings and
Short-term
Long-term
Total
Reserves


Deposits

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug


Sep

Oct

Nov

Dec


Jan

Feb


Table 10: ZIMBABWE STOCK MARKET STATISTICS


Indices
US$ Millions

Industrial
Mining
Market Capitalisation

Jun
131.96
75.70
3,341.46
Jul
132.92
112.12
3,445.93
Aug
132.27
89.04
3,434.00
Sep
146.00
96.00
3,822.80
Oct
154.47
93.66
4,033,76
Nov
150.16
68.74
3,890.9
Dec
152.40
65.12
3,963.50

Jan
179.34
84.07
4,700.33
Feb
182.3
72.01
4,748.24
Mar
183.88
66.21
4,726.34
Apr
189.66
71.98
4,894.68
May
212.72
73.99
5,471.22
Jun
211.19
73.29
5,436.57
Jul
232.87
66.77
5,9136.78
Aug
181.67
48.73
4,682.27
Sep
200.05
49.90
5,157.20
Oct
209.74
52.68
5,407.42
Nov
213.04
47.02
5,482.03
Dec
202.12
45.79
5,203.13


Source: Zimbabwe Stock Exchange (ZSE)

Jan
189.25
35.40
4,882.11
Feb
189.45
39.24
4,906.94

TABLE 11 : SAVINGS /1 WITH FINANCIAL INSTITUTIONS


US$ Millions


Commercial
Merchant

Building

End of
Banks
Banks
Other/2
Societies
TOTAL

January

February

March

April

May

June

July

August

September

October

November

December


1/ Comprises all deposits other than demand deposits.
2/ Includes People’s Own Savings Bank (POSB).

January

February


TABLE 12 : ANALYSIS OF LIQUID ASSETS OF MONETARY BANKS


US$ Millions


Commercial Banks
Accepting Houses


Liquid
Prescribed
Excess
Liquid
Prescribed
Excess

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

January

February

March

April

May

June

July

August

September

October

November

December


1/ With effect from May 2012, the prescribed liquid asset ratio was reviewed to 30% of liabilities to the public.

January

February


TABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY
Values of Transactions (US$ in millions)
MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Annual Total


Jan


Feb


TABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY
Volumes of Transactions (in thousands)
MONTH
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Annual Total 2,291.82 367.02 12,011.07
9,631.50
119,144.68 447.44

Jan

Feb

25.10