Zimbabwe’s economy shows signs of recovery

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Zimbabwean Finance Minister Mthuli Ncube says the country’s economy is showing signs of recovery even though there are still some challenges and risks.

Ncube says he expects the country’s economy to grow by 6,3% against the original budget projection of 4,5% and 4,8% estimated for 2017.

The growth is expected to be driven mainly by Agriculture and Mining. He says, however, there are risks which include a currency shortage, a current account deficit, inflation pressure, infrastructure deficiencies and poor social service delivery, among other things.

“These challenges are however not insurmountable. These challenges call for urgent reforms. It cannot be business as usual. Bold decisions needs to be taken on the reforms front on order to stimulate growth and sustainable development.”

Zimbabwean Reserve Bank Governor Dr John Mangudya says he is optimistic that things will improve.

“The economy growth will surpass the 6% we are on the right path.”

The finance minister has been given the huge task of rebuilding the economy, many say he will need a great deal of support from politicians in Zimbabwe.