IMF projects Zim’s economic growth for 2022 at 3.5%

The International Monetary Fund has projected Zimbabwe’s economy to grow by 3.5 percent in 2022, down from 6.3 percent recorded in 2021.

The Bretton woods institution however, called on the Zimbabwean government to implement policies that help tighten the monetary system to contain inflation.

In a statement following the conclusion of Article IV consultations with Zimbabwe this week, IMF’s executive board said Real Gross Domestic Product (GDP) rose by 6,3% in 2021 on the back of a bumper maize harvest, strong pickup in mining, and buoyant construction.

Meanwhile, Zimbabwe’s national trade development and promotion organization ZimTrade has welcomed the signing of a Memorandum of Understanding (MoU) between China and Zimbabwe.

This paves the way for the southern African country to export citrus fruits to its Asian partner.

The export deal will give Zimbabwe access to a market worth 500 million U.S. dollars annually and open new avenues for local farmers who have previously largely depended on the European market.

Zwnews