Zimbabwe Sees Economic Boom This Year
After decades of stagnation, Zimbabwe’s economy could grow by up to 6% this year, more than an initial forecast of 4.5%.
And this would be because of the reforms being pursued by its new leader, President Emmerson Mnangagwa’s government.
Mnangagwa, who came to power in November after a de facto military coup that removed long-time leader Robert Mugabe, has promised economic reforms to attract foreign investment and restore ties with international lenders so the country can access fresh funding.
Finance Minister Patrick Chinamasa told a state-owned newspaper that the government would be bold in reforming loss making state-owned companies and the mining sector, which generates the highest export earnings.
“I think that 4.5% growth projection may well be conservative,” Chinamasa told Herald newspaper in an interview at the World Economic Forum in Davos.
“I will not be surprised if we end up, towards the end of the year, all things being equal, at around 6% growth.”
International Monetary Fund chief Christine Lagarde last week welcomed a commitment by Mnangagwa to stabilise Zimbabwe’s economy and work to improve relations with the international community.
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