Govt debt balloons

The government's debt has ballooned to $1.4 billion at the end of 2015 in a clear sign of the President Robert Mugabe administration's failure to curb excessive spending.

In its first quarter 2016 analysis of the Zimbabwean economy South Africa based NKC African Economics (NKC) said the central bank holdings of government debt increased from $462.43 million in November 2014 to November 2015 representing a 194.06 percent year on year rise.