Zim's Unemployment Down To 50%
By Ngoni Chanakira, Harare, September 3, 2011 - Zimbabwe's unemployment rate has shot up from about 80 percent to 50 percent, Radio VOP can exclusively reveal.
"There is coninuing fragility in Zimbabwe, however," said the Washington-based World Bank in an report made available to Radio VOP.
According to the latest data made available from various sources zimbabwe's unemployment rate currently stands at 50 percent down from 80 percent. There is, however, income poverty rate of about 60 percent."
The World Bank, which regularly used to dish out cash to the poor nation said there were 24 percent unqualified teachers in Zimbabwe today and lots of child malnutrition.
"Malnutrition currently stands at 35 percent," the World Bank report says.
"There is some ecomic recovery from 2011."
It said the Gross Domestic Product (GDP) stands at 8 percent, while agricultural growth was 34 percent a 6 percent increase from last year.
The Report said inflation stands at four percent, while the privare sector credit stood at US$1,4 billion right now.
It said, however, Zimbabwe's political economy was improving underpinned by the Global Political Agreement (GPA) with SADC support.
"The banking sector is still problematic wth lots of liquidity problems," the Report says.
Zimbabwe is doing quite weel right now despite these few problems."