IMF Forecasts Zimbabwe Economy Growth

The International Monetary Fund  has confirmed that  Zimbabwe’s economy will grow by 6% this year, nearly double its previous estimate, after weathering effects of the Covid-19 pandemic.

Finance Minister Mthuli Ncube released the Fund’s Optimistic forecast aiming for punchy 7.8% growth on years of contraction.

Cyclone Idai and a drought had contracted the economy by 6% in 2019 and just after coronavirus pandemic hit the country.

The country’s gross domestic product depreciated by 4%.

“However, an economic recovery is underway in 2021, with real GDP expected to grow by about 6%,” the IMF said in a statement late Wednesday following a two-week virtual visit.

An increase in agriculture, harvest increased energy production and a great raising in manufacturing and construction activities.

“Zimbabwe has shown resilience in the face of the COVID-19 pandemic and other exogenous shocks,” an IMF statement said.

It added that the Southern African countries had cleared outstanding arrears to the fund in late 2016.

Improving the business climate and foreign exchange and monetary policies, were funded to