Ashly Dhani
Online Reporter
Zimbabwe has the potential to “emerge from the current health and economic crisis strongly” – what economists call a V-shaped recovery – as it has the natural and human resources to easily reconnect to regional and global supply chains post-pandemic, a regional bank has said.
The African Development Bank (AfDB) indicated in its African Economic Outlook 2020 (Supplement Amid Covid-19 Outbreak) released on Tuesday that country’s economy might fall between 7,5 percent and 8,5 percent depending on whether it is able to contain the coronavirus pandemic sooner or later.
But next year the economy might rise between 3,5 percent to 5,6 percent depending on the ability to manage the virus.
“Zimbabwe can emerge from the current health and economic crisis strongly. The country’s vast natural resources, public infrastructure still in relatively good condition, and a skilled labour force give the country an opportunity to join supply chains in Africa and increase trade within the context of the African Continental Free Trade Area. Coupled with policy responses to restore stability in the foreign exchange market and control inflation, the economy could modestly recover in 2021,” said the report.
Online Reporter