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Zimbabwe GDP growth revised upwards to 7.8%

29 Jul, 2021 - 15:07 0 Views
Zimbabwe GDP growth revised upwards to 7.8% Professor Mthuli Ncube

The Chronicle

Business Reporter

ZIMBABWE’S Gross Domestic Product (GDP) growth for the year 2021 is projected to remain strong at 7,8 percent, slightly above the 2021 National Budget growth target of 7,4 percent, the Minister of Finance and Economic Development, Professor Mthuli Ncube, has said.

Presenting his mid-term 2021 national budget policy review statement in Parliament today, Prof Ncube said: “The strong rebound of the economy is anchored on better 2020/21 rainfall season, higher international mineral commodity prices, stable macroeconomic environment and managed COVID-19 pandemic”.

The minister has projected higher growth rates projected in agriculture, electricity generation, manufacturing as well as financial services.

“Growth of the agriculture sector in 2021 has been revised upwards on account of higher-than-expected performance of almost all crops particularly maize, groundnuts, and sorghum. The sector is, therefore, estimated to grow by 34 percent, up from the original Budget projection of 11 percent,” said prof Ncube.

…more to follow

 

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