RECOVERY
Zimbabwe expects economy to grow 6.3%
Finance minister Mthuli Ncube says impressive performances in mining and agriculture will anchor growth, but there are myriad challenges ahead
The Zimbabwean government, which is struggling to overcome a cash crisis and acute shortages of basic commodities, has projected its economy to grow by 6.3%, by year-end. Presenting his fiscal measures aimed at reversing the current challenges, finance minister Mthuli Ncube said: "The economy is showing signs of recovery albeit with a number of challenges and risks. Indications are that the economy will grow by 6.3% against the original budget projection of 4.5% and 4.8% estimated for 2017. "With this projected growth Zimbabwe will join the 6% club of African countries growing at more than 6% per annum." Ncube said impressive performances in mining and agriculture would anchor the growth, but pointed to myriad challenges affecting the country’s economy, such as public debt of $17bn.
"The growth trajectory faces risks and challenges which are related to the following: foreign currency and cash shortages; unsustainable high budget and current account deficits; emerging inflation...
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