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Nelson Gahadza
Business Reporter
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube has said the economy has largely remained resilient despite pressures coming from climate change and geopolitical tensions.
Speaking during a lecture at the Zimbabwe National Defense College, Prof Ncube said the economy is expected to grow 2 percent this year from an average 6,8 percent growth rate recorded in previous years as a result of a dip in the agriculture sector.
“Geopolitical tensions and weak commodity prices have compounded the situation as the country, being a net importer of fuel, has been exposed to higher prices,” he said.
“Commodity prices have been weakening, thereby reducing the country’s mineral revenue. Only gold prices are an exception.”
Despite the setbacks, Prof Ncube said Zimbabwe is on track to achieve a middle-income economy by 2030 as the average growth rate of 6,8 percent has been higher than the 5 percent target.
“The economy has witnessed significant growth since 2017 as we have managed to address the twin deficits of current account and budget deficits, so we are on track to a
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