Mthuli Ncube : Economic Boom Next Year

The modest reduction in Zimbabwe’s gross domestic product this year of minus 4,5 percent due to Covid-19, will be counterbalanced by growth of 7,5 percent next year as the Zimbabwean and global economies cope with the pandemic, the Treasury has predicted.

“In 2021, the economy is predicted to recover from a projected contraction of -4,5 percent in 2020 to a growth of 7,4 percent, driven by consumption (2,6 percent) and investment (5,8 percent) improvements,” said Finance and Economic Development Minister Professor Mthuli Ncube yesterday.

Launching the 2021 Budget Strategy Paper in Harare, a document expected to guide wider consultations on the upcoming 2021 National Budget, the Minister said: “The recovery in consumption is mainly anchored on expected stabilisation of inflation through ongoing policy interventions which should aid restoration of purchasing power of consumers. Herald