AfricaBusiness & FinanceZimbabwe

Zimbabwe’s economy growth seen at 7.4% in 2021

By Almot Maqolo

Zimbabwe’s economy will rebound next year by 7.4% from a slow-down in 2020, according to the latest finance ministry document published today, which is 3.2% higher than the International Monetary Fund projection of 4.2%.The southern African nation, which, in 2018-20 was confronted with climatic, macroeconomic and the current Covid-19 shocks, is projected to contract by – 4.5% in 2020.

“However, since the gradual opening of the economy during the beginning of the second half of the year, economic activity is picking up,” reads the 2021 Pre-Budget Strategy Paper (BSP).“From 2021 as with other global economies, the economy is expected to be out of the woods with a growth projection of 7.4%, riding on stabilisation gains recorded under the Transitional Stabilisation Programme (TSP), expected improvement in the climatic and investment conditions and planned strategies and programs under the National Development Strategy (NDS).”

The BSP marks the transition from the TSP, coming to an end in December 2020, paving way for the longer term NDS: 2021-25, as the country ascends towards Vision 2030, for attaining a middle income status economy.<br><br>Under the theme “Building Resilience and Economic Recovery Post Covid-19” the BPS focusses on strengthening the economy to withstand any potential climatic and macroeconomic shocks, as we focus on attaining inclusive and sustainable growth towards Vision 2030.

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