Zimbabwe: IMF Projects 6pc GDP Growth for Zim

Zimbabwe's economy is expected to grow by 6 percent this year on the back of a bumper harvest, increased energy production and resumption of greater manufacturing and construction activities, the International Monetary Fund (IMF) has said.

In a statement yesterday after a virtual staff visit led by Mr Dhaneshwar Ghura from June 1 to 15 to discuss recent economic developments and the economic outlook, the IMF team said Zimbabwe had demonstrated resilience in the face of Covid-19 and other shocks such as Cyclone Idai and a protracted drought.

"Despite the authorities' timely actions to support the most vulnerable groups and businesses during the pandemic, real GDP contracted by 4 percent in 2020, after a 6 percent decline in 2019. "However, an economic recovery is underway in 2021, with real GDP expected to grow by about 6 percent, reflecting a bumper agricultural output, increased energy production, and the resumption of greater manufacturing and construction activities," said Mr Ghura.

During the virtual visit, the IMF team met Government officials.

More From: The Herald

Don't Miss

AllAfrica publishes around 800 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

X