Editing History of Zimbabwe (section)

===The economy during the 1980s and 1990s===
{{Main|Economic history of Zimbabwe}}
The economy was run along corporatist lines with strict governmental controls on all aspects of the economy. Controls were placed on wages, prices and massive increases in government spending resulting in significant [[budget deficits]]. This experiment met with very mixed results and Zimbabwe fell further behind the first world and unemployment. Some market reforms in the 1990s were attempted. A 40 per cent devaluation of the [[Zimbabwean dollar]] was allowed to occur and price and wage controls were removed. These policies also failed at that time. Growth, employment, wages, and social service spending contracted sharply, inflation did not improve, the deficit remained well above target, and many industrial firms, notably in textiles and footwear, closed in response to increased competition and high real interest rates. The incidence of poverty in the country increased during this time.