Business / Economy
Diaspora remittances second source of external capital inflows
31 Dec 2016 at 19:24hrs | Views
Remittances by locals from abroad are now Zimbabwe's second source of external capital inflows with calls to implement policies aimed at increasing foreign direct investments increasing.
Data compiled by the fiscal authorities indicate that while exports have contributed 65 percent of the total inflows averaging US3 billion this year, remittances from the Diaspora accounted for 30 percent.
The major exports include gold, tobacco, platinum among other goods and services with concern being however raised over the drop in foreign direct investment contributions to the external revenue inflows.
An economist Dr Nyasha Kaseke says the government and other critical authorities should focus on policies to improve business confidence.
The government has already finalised a Diaspora policy aimed at tapping more funds from locals living abroad.
Data compiled by the fiscal authorities indicate that while exports have contributed 65 percent of the total inflows averaging US3 billion this year, remittances from the Diaspora accounted for 30 percent.
The major exports include gold, tobacco, platinum among other goods and services with concern being however raised over the drop in foreign direct investment contributions to the external revenue inflows.
An economist Dr Nyasha Kaseke says the government and other critical authorities should focus on policies to improve business confidence.
The government has already finalised a Diaspora policy aimed at tapping more funds from locals living abroad.
Source - zbc
