Good news pertaining to the nation of Zimbabwe seems to be coming from all angles. Recently, the International Monetary Fund (IMF) also shared some positive news about Zimbabwe’s economy.
Zimbabwe recorded a bumper harvest this year as a result of good rains. The President made an announcement that this year’s harvest exceeded all others.
As a result, the IMF issued a statement saying that the economy will rise upto 6% on higher farm output and a recovery in energy, manufacturing and construction.
The IMF report released on Wednesday, announced the 6% growth to the economy which is an increase from the previously reported 3.1% growth for the same 2021 period.
In a statement at a virtual staff visit to Zimbabwe which took place from June 1 to 15, the IMF stated:
“However, an economic recovery is underway in 2021, with real GDP expected to grow by about 6%, reflecting a bumper agricultural output, increased energy production, and the resumption of greater manufacturing and construction activities”.
On the other hand, Zimbabwe predicted a higher 7.4% growth. So, its no surprise that the financial analyst, Eddie Cross confidently stated that the economy of Zimbabwe is now on a very sturdy foundation.
Another noteworthy source, the World Bank, stated that the country is headed in the right direction despite the increase in poverty.
However, recent laws have been said to sabotage individuals and companies. A major one is the statutory Instrument 127 of 2021. The effects of this law on the said economic growth is not yet certain.
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