Zimbabwe's economy poised for growth

Philemon Jambaya

Zim Now Editor

Zimbabwe's economic recovery and growth trajectory continues to attract the attention of multilateral financiers, with the African Development Bank predicting over 5% growth for the country's economy this year.

In its latest African Economic Performance Report, the AfDB gives a positive outlook of Zimbabwe's economy, ranking it second in terms of recovery and growth compared to other Southern African economies.

The report cites agriculture as the main sector that will record major recovery strides, followed by mining, transport and distribution, construction, retail, and manufacturing, among others.

University of Zimbabwe Business School Director, Professor Albert Makochekanwa, notes that despite the AfDB forecast falling short of the government's range at 6%, findings by the global financier reflect confidence in recovery.

"The AfDB report shows some positive developments related to overall macroeconomic growth trajectory, and this is coming at the right time when the government intends to scale up economic growth," he said.

Zimbabwe National Chamber of Commerce president,Tapiwa Karoro, says consolidating the current gains is critical.

"What is needed is that element of stakeholder commitment where the government and the private sector work together towards identifying what needs to be done this year," he said. "While there are positive signs of the economy growing, there are still many grey areas that need to be sorted in terms of consolidating the current gains."