Sundaymail Editor
Online Reporter
Zimbabwe’s economy is among the best performers in Sub-Saharan Africa, according to latest International Monetary Fund (IMF) projections, with a growth rate of 5,1 percent this year.
The IMF has also projected that Zimbabwe’s economy will grow by 3,1 percent next year.
The country’s expected growth rate is above that of the Sub-Saharan Africa average of 3,7 percent this year.
“Sub-Saharan Africa is projected to grow by 3,7 percent in 2021 and 3,8 percent in 2022, a welcome but relatively modest recovery, suggesting that divergence with the rest of the world will persist over the medium-term.
“This rebound is most welcome and primarily results from a favorable external environment, including a sharp improvement in trade and commodity prices,” said the IMF on Thursday.
“In addition, improved harvests have lifted agricultural production. Yet, the outlook remains highly uncertain as the recovery depends on the progress in the fight against Covid-19 and is vulnerable to disruptions in global activity and financial markets.”
Presenting the 2021 Mid-Term Budget Review in July, Finance and Economic Development Minister Professor Mthuli Ncube upgraded the projected economic growth this year from the initial 7,4 percent to 7,8 percent.
For 2022, the Finance Minister projected a 5,4 percent growth.
Online Reporter