Power cuts costing Zim US$1,2bn: WB

THE World Bank has urged the government to address the country’s energy deficit after estimating that power cuts are costing the economy at least US$1,27 billion annually.

In its fourth Zimbabwe Economic Update report released yesterday, the World Bank said power shortages had stalled economic growth.

“World Bank estimates suggest that Zimbabwe’s power shortages cost the country a total of 6,1% of GDP [gross domestic product] per year, comprising 2,3% of GDP in generation inefficiencies and excessive network losses, and 3,8% of GDP on the downstream costs of unreliable energy,” it said.

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