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Zimbabwe Has Lost US$42 Billion Because Of Sanctions - Mthuli

Zimbabwe Has Lost US$42 Billion Because Of Sanctions - Mthuli

Finance and Economic Development minister Mthuli Ncube on Saturday claimed that Zimbabwe’s economy has lost more than US$42 billion since 2002 because of sanctions.

Speaking at a youth program in Gweru, Ncube also claimed that foreign direct investment (FDI) fell from US$95 million in the 1990s per year to just US$20 million per annum in the 2000s. Said Ncube:

The over US$42 billion which we have lost since 2002 is almost double our economy which stands at US$25 billion. That’s quite a huge margin and people need to realise the effects of such a loss.

Almost US$4.5 billion of that money was intended for donor support and US$18 billion was for financial support. Banks lost over 100 corresponding resources. We experienced a massive loss of jobs and we were unable to create jobs easily. We have lost foreign direct investment.

FDI has been restricted and investors would be fearing to associate with us for fear of these sanctions. If you are to look at the FDI inflows in the 80s, they were about US$8 million per year, they increased to US$95 million in the 90s but then dropped to US$20 million per annum in 2000.

The European Union and the United States recently renewed the sanctions they imposed on Zimbabwe at the turn of the Millenium alleging human rights violations and a breakdown in the rule of law.

More: New Zimbabwe

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37 Comments

Vybz Kartel 5 months ago

We need sanction busting means vaNcube no kungoswera tichitaura kuti ma sanction njani njani we needed to be self sufficient. You have the mind set to implement that but why are you delaying we do not need the west to be self sufficient. Napedza ndini wenyu Vybz Kartel MU ZANU PF AKAZVIMIRIRA


Concerned 5 months ago

How much has Zimbabwe lost because of corruption?


5 months ago


Joe Buoy 5 months ago

So those sanctions are the ones contributing to the fall of Zimbabwe economy heeee haaaa imi tsvakai zvimwe masanctions oga haangambo donese nyika zvekudaro ZAN*** Is the major reason why we losing such the large amounts of 💰


Adv slamey 5 months ago

Kumakanzuru who signs and approves the budget havasi minister of local government here. kwamuri kuti luxurious cars uko ko central govt hainawo here ? Nyika yese zvayanga yoofamba yakagara vachitenga mota from Japan and the like kanzuru yamurikuti opposition ndiyo futi yakazvivharisa here

Vybz Kartel 5 months ago

Ndiudzei mukoma wangu kuti ZANU yauraya nyika pakudini obvious muchati corruption. Ko Kuma kanzuru kuri kutongwa ne the opposition how is it you love the most luxurious cars at the expense is the so called masses that you claim to represent

Vybz kartel 5 months ago

its not because of sanctions its because of corruption by that shona government which is full of thieves


Vybz Kartel 5 months ago

You know what you nimkumpoop thieving son of a bi tch keep the name I will always be a ZANU PF supporter come rain come thunder you will be always be under my feet I'm coming for you

Vybz Kartel 5 months ago

Dai vangoisa Chamisa munhu wevanhu ma sanctions aenda taneta nenhamo. Tavekuda change nyika yedu yaparara

#Vote CCC 2023 tinoenda nacho chinhu
Chamisa Chete Chete
Freedom Chete Chete
Economic Growth Chete Chete
Powerful Currency Chete Chete
USD salaries Chete Chete
Pasi neZanu
Pasi neCorruption
Pasi neKuuraya nyika


Kkkkk 5 months ago

Kartel abitwa zita na kartel🤣🤣🤣🤣

Vybz Kartel 5 months ago

**** pamai vako

𝗠𝗮𝗿𝗮𝘃𝗮𝘇𝗮 5 months ago

𝗡𝗰𝘂𝗯𝗲 𝗺𝘂𝘀𝘁 𝘁𝗲𝗹𝗹 𝗵𝗶𝘀 𝗰𝗼𝗺𝗿𝗮𝗱𝗲𝘀 𝘁𝗼 𝗳𝗼𝗹𝗹𝗼𝘄 𝘁𝗵𝗲 𝘀𝗶𝗺𝗽𝗹𝗲 𝗭𝗶𝗱𝗲𝗿𝗮 𝗿𝗲𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 𝘁𝗼 𝘂𝗻𝗱𝗼 𝘀𝗮𝗻𝗰𝘁𝗶𝗼𝗻𝘀..


ngorima mushava 5 months ago

zidera resolutions......ivhu nderedu iri inhaka yemadzibaba edu ,land reform is irreversible

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mhondoro 5 months ago

Dont forget minister we lost 15 billion yema diamonds mined in Marange, so its 42 -15billion, iyi 15 hainei nema sanctions,


Dombo@07 5 months ago

Its all due to corruption. Don't lie to us Minister Mutuvi .to hell with your propaganda


CCC 5 months ago

and we lost 200billion to Corruption


Boy 5 months ago

Uyuwo uyu anorwara


Zimdollar 5 months ago

I lost US$100 000 due to Mutuvi's Financial policies that converted my savings from US$ to RTGS. Hayiperi nyaya iyoyi.


Ribvungu 5 months ago

your perennial stay in hotel is making us lose some billions also. rest in peace tax payer's money


Ten Tag's 5 months ago

Stop blaming sanctions but blame your Rigging actions ,nonsense


Yvt 5 months ago

15 billion yakabiwa iya yema Diamonds, plus 10Billion ku command agriculture,the rest 8 billion ndimiwo muripo ipapo nekuita over inflate ma tender, ana Wicknell Chivayo ne Zesa tender etc. In other words they are just telling us how much they stole from us !!!


Word 5 months ago

True

Vybz Kartel 5 months ago

I lost my ZWD100 000 000 000 000.00 in January 2009. Ndozviudza ani nhai ?


xyz xyz 5 months ago

chero Zimbabwe tikapiwa cash 42billion iyoyo right now,neleadership yatinayo inongoperera pakutenga macruiser,ma**** from SA, expensive hotels,zvovharana.


Hulk Hogan 5 months ago

These are the results of killings whites,grabbing white people farms and fighting against the will of Zimbabwean citizen. How can a normal person fight, kill and insult the seed of world economic giants,the supper powers?Stupid move by Mugabe and ZANU of.


ngorima mushava 5 months ago

grabbing white people farms ..???????...how did the whites get that land in the 1st place?????

Pidigu Ji 5 months ago

Nyangwe tikapiwa US$200 Billion haisviki kuna ordinary jack naJilly


Mawundula 5 months ago

Those suctions are not ours ngawenu lina elifuna ukubusa


Pfomfviro 5 months ago

Anobzi msuri Ncube


5 months ago


Gabadela 5 months ago

And Zimbabwe has lost times 2 that amount from your thieving and buerucracy. NHM ☝️☝️


Chen 5 months ago

Haisiyo inonzi keep your Britain and l will keep my USA and haisiyo yekuti nyika inovakwa neamweni ayoo , so makuzhambei futi


Muchama 5 months ago

Chamisa ngaayenda kumusha kwake onowirirana nevanhu veko kana atamba navo zvakanaka okumbira kuti vamudzidzise kuteya mbeva nekuchera magurwe kuredza hove kana atadza izvozvo ngaazvisungirire


Vybz Kartel 5 months ago

Hahahahaha😂😂😂😂🤣🤣🤣🤣🤣

𝗠𝗮𝗿𝗮𝘃𝗮𝘇𝗮 5 months ago

𝗦𝗮𝘆 𝘆𝗼𝘂 𝗹𝗼𝘀𝘁 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝘄𝗼𝗿𝘁𝗵 42 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝗻𝗼𝘁 42 𝗯𝗶𝗹𝗹𝗶𝗼𝗻.



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