Zimbabwe’s economy will contract by 6.5% this year, according to the latest update by Finance and Economic Development Minister Professor Mthuli Ncube, but he was quick to highlight that growth will be experienced from 2020 going forward.
After reiterating his October 7 projections that the economy will decline by up to 6% this year, Finance Minister Ncube told jornalists in Victoria Falls this afternoon that the economy was projected to recover and grow 3% next year on the expectation that there would be better rains to power agriculture as well as improved foreign exchange inflows and electricity generation.
“In 2020, the economy is projected to turn around building on the success of the ongoing reform initiatives.
“Improved rainfall season which should enhance agriculture production and electricity generation with trickle-down effects to all other sectors.”