10-08-19 by Spotlight Zimbabwe

Zimbabwe economy seen contracting up to 6% in 2019 -treasury document

 

HARARE  – Zimbabwe’s economy is projected to contract by up to 6% this year due to a drought that hit farming output and electricity generation but is expected to rebound next year on better agriculture prospects, a treasury document showed on Monday.

The southern African nation’s economy is grappling with its worst crisis in a decade, with triple-digit inflation, rolling power cuts and shortages of U.S. dollars, medicines and fuel that have revived memories of the 2008 hyperinflation under late President Robert Mugabe.

Reuters

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