The World Bank has cut its 2023 economic growth projection for Zimbabwe to 2.9% from its previous estimate of 3.6%.
The World Bank estimates that Zimbabwe’s economy grew by 3.4% in 2022, but sees slower growth in 2023.
However, the government projects growth of 3.8% this year, while International Monetary Fund expects a 2.5% growth for the country.
Over the years, Zimbabwe’s economy had been affected by de-industrialisation due to a number of factors.
The government of Zimbabwe is however blaming everything on sanctions imposed by Western countries.