[Date]


OCTOBER 2014


i

MONTHLY ECONOMIC REVIEW
TABLE OF CONTENTS

SELECTED ECONOMIC INDICATORS 1
STOCK MARKET DEVELOPMENTS 2
MONETARY DEVELOPMENTS 2
ANNUAL INFLATION OUTTURN 4
NATIONAL PAYMENTS SYSTEM 5
FISCAL DEVELOPMENTS 5
COMMODITY PRICE DEVELOPMENTS 7

MONTHLY ECONOMIC REVIEW

September

October
Month-on-
Month
Change
Z.S.E. Mining Index1
92.75
70.38
-24.13%
Z.S.E. Industrial Index1
195.25
177.88
-8.90%
Money Supply (US$)2
4.39 billion
4.46 billion
1.59%
Money Supply (M3) Annual Growth2
12.22%
12.79%

Yearly Inflation3
0.09%
-0.001%
-0.11%
Nominal Lending Rate
6.00-35.00%
6.00-35.00%

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

During the month of October 2014, Global stock
markets were weighed down by concerns that the
Eurozone might be falling into deflation. In Africa,
most of the major markets declined, with the
exception of South Africa. The decline in oil prices
impacted negatively on the Nigerian stock market,
fueling speculation that the country might devalue its
currency.
Against the background of bearish sentiments, which
continued to dominate the market, the industrial and
mining indices of the Zimbabwe Stock Exchange
declined. These sentiments were largely underpinned
by the prevailing unfavourable economic conditions,
coupled with the persistent liquidity crisis.
The industrial index fell by 8.90% from 195.25 points
in September 2014, to 177.88 points in October 2014.
On a year to date basis, the industrial index declined
by 15.2%. In tandem, the mining index also fell by
24.13% in September 2014 to close the month under
review at 70.38 points.


The volume of shares traded on the ZSE declined by
39.86%, from 207.80 million shares in September
2014, to 124.97 million shares in October 2014. On
an annual basis, the volumes of shares recorded a
79.3% decline.

Source: Zimbabwe Stock Exchange
Month-on-month, market turnover declined by
17.03%, from US$34.06 million in September 2014,
to US$28.26 million in October 2014. On a year-onyear basis, market turnover also declined by 36.6%.
Similarly, market capitalisation closed the month of
October 2014 at US$4 664.8 million, down from
US$5 140.2 million in September 2014. Reflecting
subdued economic activity, market capitalisation lost
US$742.62 million to US$4 664.8 million in October
2014, from US$5 407.4 million in October 2013.

03-Jan-12
03-Apr-12
03-Jul-12
03-Oct-12
03-Jan-13
03-Apr-13
03-Jul-13
03-Oct-13
03-Jan-14
03-Apr-14
03-Jul-14
03-Oct-14
ZSE Indices
Industrial
Mining

0.5

1.5

2.5

3.5

4.5

VALUES TRADED (US$ MILLIONS)
VOLUMES TRADED (MILLIONS)
ZSE: Daily Volumes and Values
ZSE: Daily Volumes and Values Traded
Traded
Volume
Turnover
Source: Zimbabwe Stock Exchange


MONTHLY ECONOMIC REVIEW

MONETARY DEVELOPMENTS

Annual growth in broad money continued on an
upward trend, rising to 12.79% in October 2014, from
12.22% in September 2014. The increase in broad
money was driven by increases across all deposit
classes.
On a monthly basis, broad money increased from
US$4 388.50 million in September 2014 to
US$4 457.26 million in October 2014.

Source: Reserve Bank of Zimbabwe
Long term deposits registered the largest annual
growth of 41.30% in October 2014. Over the same
period, savings, demand, and short term deposits,
recorded increases of 23.77%, 5.67% and 3.55%,
respectively.
The growth in the deposit base was, however, not
matched by a similar increase in domestic credit.
Annual growth in domestic credit remained largely
unchanged at 6.18% in October 2014. On a monthon-month basis, domestic credit grew by 1.50%, from
US$4 267.18 million in September 2014 to US$4
331.34 million in October 2014.

Source: Reserve Bank of Zimbabwe
Annual growth in credit to the private sector stood at
1.84% in October 2014, up from 0.93% in September
2014. On a month-on-month basis, credit to the
private sector recorded a growth of 0.96%, from
US$3 752.36 million in September 2014 to
US$3 788.45 million in October 2014.
-5


Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
%
US$ BILLIONS
Money Supply
Money Supply
M3
M3 Annual Growth
Under 30day
19%
Longterm
19%
Demand
49%
Savings
13%Banking Sector Deposits
Banking Sector DepositsOctober 2014
October 2014


MONTHLY ECONOMIC REVIEW

Source: Reserve Bank of Zimbabwe
During the month under review, loans and advances
constituted 82.84% of the total credit to the private
sector, followed by mortgages, 12.75%; other
investments, 1.95%; bills discounted, 1.43%; and
bankers’ acceptances, 1.03%.
Financing by banks was channeled to the agricultural
sector through pre and post tobacco financing,
18.16%;
manufacturing,
14.94%;
households,
17.81%; mining 6.73%; and construction, 2.15%.
Loans and advances, however, remained short term in
nature.
Net credit to Government registered a 57% annual
growth during the period under review. On a monthly
basis, net credit to Government increased by 6.34%,
from US$442.44 million in September 2014 to
US$470.50 million in October 2014.
INFLATION OUTTURN

Annual Inflation
Annual headline inflation, which has been declining
since July 2014, stood at -0.001% in October 2014,
from 0.09% in September 2014, signaling the onset of
a potential second phase of deflation during 2014.
The slowdown in annual inflation was largely driven
by a decline in food prices.
Annual food inflation at -3.23% in October 2014,
declined by 0.28 percentage points from a -2.95% in
September 2014. The deceleration was largely
attributed to the decline in prices of sugar, jam, honey
and chocolate; meat; and milk cheese and eggs,
among others.

Source: Zimbabwe Statistics Agency
The year-on-year non-food inflation remained
unchanged at 1.59% in October 2014 and was mainly
driven by increases in the prices of alcoholic
Loans&Advances
82.84%
Bills
Discounted
1.43%
Bankers
acceptances
1.03%
Other
investments
1.95%
Mortgages
12.75%Credit to Private Sector
Credit to Private Sector


Annual Inflation
(%)
Headline Inflation
Food
Non Food


MONTHLY ECONOMIC REVIEW

beverages and tobacco as well as education, transport
and health services.
Monthly Inflation
Month-on-month inflation decelerated to -0.11% in
October 2014, from -0.01% in September 2014, on
account of declines in both food and non-food
inflation.
Monthly food prices continued to fall, albeit at a
slower pace, easing from -0.34% in September 2014
to -0.24% in October 2014. The fall in monthly food
inflation was driven by declines in all food subcategories except meat.
Monthly non-food inflation fell from 0.15% in
September 2014, to -0.04% in October 2014, largely
driven by declines in health and transport. The fall in
transport inflation partly emanated from lower petrol
and diesel prices, as international oil prices continued
to fall. Partially offsetting these declines were
marginal gains in the clothing and footwear; alcoholic
beverages; housing, water, electricity, gas and other
fuels categories.
NATIONAL PAYMENTS SYSTEM

Zimbabwe Electronic Transfer Settlement System
(ZETSS)
The value of transactions processed through the Real
Time Gross System (RTGS) decreased by 5% to
US$3.8 billion in October 2014, from US$4 billion in
September 2014. The volume of transactions
registered an increase of 1% from 197 878 to 200 323
during the same period.
Source: Reserve Bank of Zimbabwe
Card Based Transactions
The total value of card based transactions stood at
US$441.77 million in October 2014, up from
US$418.89 million in September 2014.
Mobile and Internet Based Transactions
Mobile and internet based transactions rose from
US$457.17 million in September 2014, to US$479.70
million in October 2014, in value terms.
Cheque Transactions
The period under review also saw the value of cheque
transactions increase to US$13.58 million in October
2014, from US$11.16 million in September 2014.


VALUE IN US$ BILLIONS
VOLUME IN THOUSANDS
ZETSS Volum
ZETSS Volumes and Values
Volume
Value


MONTHLY ECONOMIC REVIEW

FISCAL DEVELOPMENTS

Cumulative
fiscal
revenue
inflows
totaled
US$3 107.52 million, against total expenditure
outlays of US$3 129.11 million in October 2014. This
culminated in a budget deficit of US$21.59 million.
Government Revenue
Cumulative Government revenues to October 2014
amounted to US$3 107.52 million, against a target of
US$3 270.26 million, resulting in a negative variance
of US$162.74 million.

Source: Ministry of Finance and Economic Development
Tax revenue accounted for 90.51% of total revenue,
while the remaining 9.49% was non-tax revenue.


Tax on income and profits as well as VAT continued
to dominate Government revenue collections,
accounting for 39.01% and 26.14%, respectively. The
lower than anticipated collections were, in large part,
a result of subdued economic activity.

Source: Ministry of Finance and Economic Development
Cumulative Government expenditure to October
2014, at US$3 129.11 million, was 4.32% below the
target of US$3 270.26 million. Recurrent expenditure
totaled US$2 867.45 million, accounting for 91.64%
of total expenditure, of which employment costs
accounted for 55.35%. Capital expenditures and net
lending were US$226.92 million, against a target of
US$351.78 million, accounting for 7.25% of total
expenditures.

US$ MILLIONS
Monthly Government Revenue
Monthly Government Revenue
ACTUAL
TARGET
Tax on
Income
and profits
40%
Other
Indirect
Taxes
3%
VAT
27%
Excise
Duties
14%
Custom
Duties
9%
Non-tax
Revenue
7%Structure of Government Revenue
Structure of Government Revenue


MONTHLY ECONOMIC REVIEW

Source: Ministry of Finance and Economic Development
COMMODITY PRICE DEVELOPMENTS

Commodity prices remained generally weak in
October 2014, partly due to a glut on global markets,
occasioned by weakening demand. In addition, the
strengthening of the US dollar, coupled with
declining economic activity in the Eurozone and
emerging market economies had a dampening effect
on international commodity prices.


Precious Metals
Against this background, precious metal prices
recorded sustained declines in October 2014. Gold
prices retreated by 1.4% from an average of
US$1 240.26/oz in September 2014, to an average of
US$1 222.97/oz in October 2014.


Source: Bloomberg, BBC and KITCO

Platinum prices also retreated by 7.6%, from an
average of US$1364.91/oz in September 2014, to
US$1 208.80/oz in October 2014.
Capital
Expenditure
7%
Employment
Costs
56%
Other Current
Expenditure
36%
Other
Grants
1%Expenditure Categories as a
Expenditure Categories as a Proportion of Total Expenditure
Proportion of Total Expenditure

Gold (US$/oz)


MONTHLY ECONOMIC REVIEW

.

Source: Bloomberg, BBC and KITCO
Base Metals
Copper and nickel prices declined in October 2014,
amid weak demand from emerging markets,
underpinned by the economic slowdown in China, the
world’s largest consumer of base metals. Notably, the
accumulation of base metal inventories in most
markets also dampened prices.
Nickel prices retreated by 12.8%, from a monthly
average of US$18 067.95/tonne in September 2014,
to US$15 747.83/tonne in October 2014. Improved
global supplies, coupled with the subdued global
economic outlook further weighed down nickel
prices.

Source: Bloomberg, BBC and KITCO

In tandem, copper prices declined marginally by 2%
from US$6 871.14/tonne in September 2014, to
US$6 737.87/tonne in October 2014. The decline in
copper prices was primarily attributed to expectations
of rising global supplies.

Platinum (US$/oz)
14000
15000
16000
17000Nickel (US$/Tonne)
Nickel (US$/Tonne)


MONTHLY ECONOMIC REVIEW

Source: Bloomberg, BBC and KITCO

Crude Oil
Crude oil prices declined to an average of
$88.22/barrel in October 2014, from an average of
US$98.72/barrel in September 2014. The key OPEC
producers, particularly Saudi Arabia, maintained their
production levels, pushing oil prices down.

Source: Bloomberg, BBC and KITCO


RESERVE BANK OF ZIMBABWE
DECEMBER 2014

Copper (US$/Tonne)

Crude Oil (US$/Barrel)

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 16

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. 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

MONTHLY ECONOMIC REVIEW


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

TABLE 1.1 : MONETARY AGGREGATES
US$ Thousands

MONTHLY ECONOMIC REVIEW

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

Assets

Reserve Bank (RBZ)

Deposit Money Banks (DMBs)

Other Banking Institutions (OBI

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


MONTHLY ECONOMIC REVIEW

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


MONTHLY ECONOMIC REVIEW

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


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


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

Jun

Jul

Aug

Sep

/1 Including the only merchant bank still in operation.
TABLE 2.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1
$ Thousands


MONTHLY ECONOMIC REVIEW

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

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

/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
Jun-05
Jun-05

(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

TABLE 3.1: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS) (WITH RBZ)


MONTHLY ECONOMIC REVIEW

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

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Notes
TABLE 4.1 LENDING RATES (percent per annum)1
2. Nominal Lending Rates depict the range of rates quoted by banks.
Commercial Banks
Merchant Banks
Weighted Average Lending Rates3
Weighted Average Lending Rates3
1. Table revised, to separate weighted lending rates for individuals and corporate bodies.
3. Lending rates exclude rates on staff loans.


MONTHLY ECONOMIC REVIEW

ACCEPTING HOUSES
END OF
SAVINGS
3 MONTHS
3 MONTHS

Jan
0.15-8.00
4.00-20.00
6.00-17.00
Feb
0.15-8.00
4.00-20.00
6.00-17.00
Mar
0.15-8.00
4.00-20.00
8.00-12.00
Apr
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
Jun
0.15-8.00
4.00-20.00
6.00-17.00
Jul
0.15-8.00
3.00-20.00
6.00-17.00
Aug
0.15-8.00
3.00-20.00
6.00-17.00
Sep
0.15-8.00
3.00-20.00
11.00-12.00
Oct
0.15-8.00
3.00-20.00
11.00-12.00
Nov
0.15-8.00
3.00-20.00
11.00-12.00
Dec
0.15-8.00
3.00-20.00
11.00-12.00

Jan
0.15-8.00
3.00-20.00
11.00-12.00
Feb
0.15-8.00
3.00-20.00
11.00-12.00
Mar
0.15-8.00
3.00-20.00
11.00-12.00
Apr
0.15-8.00
3.00-20.00
11.00-12.00
May
0.15-8.00
3.00-20.00
11.00-12.00
Jun
0.15-8.00
3.00-20.00
11.00-12.00
Jul
0.15-8.00
3.00-20.00
11.00-12.00
Aug
0.15-8.00
4.00-20.00
11.00-12.00
Sep
0.15-8.00
4.00-20.00
11.00-12.00
* 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
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


OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

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


MONTHLY ECONOMIC REVIEW

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


SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

NON-FOOD INFLATION
TABLE 5.2 : YEARLY INFLATION -- PERCENTAGE CHANGE IN CONSUMER PRICE INDEX
(DECEMBER 2012 = 100)


MONTHLY ECONOMIC REVIEW

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

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER

DECEMBER


JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

JULY

AUGUST

SEPTEMBER

TABLE 6 : SELECTED INTERNATIONAL EXCHANGE RATES
1. Fo reign currency per US Do llar.
2. US Do llar per unit o f fo reign currency.


MONTHLY ECONOMIC REVIEW

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

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

Jun

Jul

Aug

Sep

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

Feb

Mar

Apr

May

Jun

Jul

Aug.

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

TABLE 7.2: COMMERCIAL BANKS - LIABILITIES
US$ Millions
Amounts Owing to


MONTHLY ECONOMIC REVIEW

Loans &
Contigent
Other
Non Financial
TOTAL
End of
Notes
Total
Other Balances
Advnces
Assets
Assets
Assets
&
Balances
Balances
Balances
Liquid
with RBZ
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

Jun

Jul

Aug

Sep

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

Jun

Jul

Aug

Sep

Amounts Owing to
TABLE 8.2 : ACCEPTING HOUSES - LIABILITIES
US$ Millions


MONTHLY ECONOMIC REVIEW

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

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

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

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Deposits
TABLE 9.2 : BUILDING SOCIETIES - LIABILITIES
US$ Millions
Amounts Owing to


MONTHLY ECONOMIC REVIEW

Market Capitalisation
Industrial
Mining
US$ Millions

Jan
179.34
84.07
4700.33
Feb
182.3
72.01
4748.24
Mar
183.9
66.2
4726.34
Apr
189.66
71.98
4894.68
May
212.72
73.99
5471.22
Jun
211.19
73.29
5436.57
Jul
232.87
66.77
59136.78
Aug
181.67
48.73
4682.27
Sep
200.05
49.9
5157.2
Oct
209.74
52.68
5407.42
Nov
213.04
47.02
5482.03
Dec
202.12
45.79
5203.13

Jan
189.25
35.4
4882.11
Feb
189.45
39.24
4906.94
Mar
176.32
29.51
4560.29
Apr
172.91
29.64
4473.51
May
174.89
35.45
4485.11
Jun
186.57
61.32
4873.4
July
188.07
95.00
4959.21
Aug
196.43
104.8
5186.63
Sep
195.25
92.75
5140.20
Indices
Table 10: ZIMBABWE STOCK MARKET STATISTICS


MONTHLY ECONOMIC REVIEW

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

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

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

Jun

Jul

Aug

Sep

1/ With effect from 1 August 2011, the prescribed liquid asset ratio was reviewed to 25% of liabilities to the public, from 20%.
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

Oct

Nov

Dec

Annual Total


Jan

Feb

Mar

Apr

May

Jun

Jul
3955.45
11.72
125.81

312.35
101.75
Aug

Sep

Oct

TABLE 13.1 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY
Values of Transactions (US$ in 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


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

TABLE 13.2 : ZETSS AND RETAIL PAYMENTS TRANSACTIONAL ACTIVITY
Volumes of Transactions (in thousands)


MONTHLY ECONOMIC REVIEW