Zimbabwe economy set for 3.5% growth

Zimbabwe economy set for 3.5% growth
Published: 30 October 2017 (586 Views)
Zimbabwe's economy is expected to register a 3.5 percent growth rate next year in line with Sub-Saharan Africa regional economic outlook trends.

The projected economic growth for Zimbabwe is being made in line with efforts by fiscal and monetary authorities to increase business confidence.

Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya told financial global community personalities and captains of industry and commerce at the unveiling of an International Monetary Fund (IMF) 2017 Regional Economic Outlook for Sub-Saharan Africa in Harare this Monday that the 3.5 percent anticipated economic growth for next year is also a reflection of commitment by authorities to consolidate economic gains.

The Sub-Saharan Africa region is however experiencing a slowdown in economic growth rates due to global commodity price fluctuations and climate change, according to IMF Director for Africa, Mr Abebe Selassie.

IMF resident representative, Mr Christian Beddies said the global lender is committed to work with Zimbabwe.

The regional economic outlook report cites foreign exchange market pressures, production constraints and public debts as threats to economic growth for the region.


- zbc

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