Market News
Zimbabwe on track for 6% growth as economy recovers from drought - REUTERS
By Chris Takudzwa Muronzi
HARARE, July 31 (Reuters) - Zimbabwe is on track to achieve a forecasted 6% economic growth in 2025 helped by good agricultural output and strong commodity prices, Finance Minister Mthuli Ncube said on Thursday.
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The Southern African country's economy has shown signs of recovery in the first half of the year following a severe drought and currency turbulence in 2024 that pushed GDP growth down to 2%.
"Given the positive economic developments during the period January to June, we are confident that the projected economic growth of 6% alluded to in the 2025 National Budget is achievable," Ncube told parliament in a mid-year budget review.
"All sectors of the economy are expected to record positive growth in 2025, mainly on account of a favourable agriculture season, improved electricity generation, stable exchange rate and inflation rate," he said.
He did not give an update on the budget deficit, which was seen at 0.4% of gross domestic product in 2025 during the budget forecast last November.
