06-29-18 by Spotlight Zimbabwe

Zimbabwe’s economy to grow by 4.5 per cent in 2018

 

HARARE — Zimbabwe’s gross domestic product (GDP) is expected to grow by 4.5 per cent this year on the back of a renewed confidence in the economy which the new government has ushered in, according to a regional financial management institute.

Through its re-engagement and revision of stringent policies, the new government is promoting growth of the economy by creating a conducive business environment to attract investment, says the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) in its June bulletin released here Wednesday.

The institute said that the government, since it came into office in November last year, had attracted 16 billion US dollars worth of foreign investment commitments. President Emmerson Mnangagwa has promised to achieve a middle-income economy by 2030.

The MEFMI bulletin said there was a renewed hope for Zimbabwe economically. It projected the Zimbabwean 2018 GDP to grow to 18.9 billion USD from the 16.29 billion USD which the Word Bank forecast.

“The Zimbabwean economy is expected to post higher real GDP growth in the outlook period, on account of renewed hope and confidence as the new Government has ushered in a new economic order,” the report said.

BERNAMA-NNN-NEW ZIANA

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