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World Bank Revises Zimbabwe's Economic Growth Projection Down To 3.7%

World Bank Revises Zimbabwe's Economic Growth Projection Down To 3.7%

The World Bank (WB) has projected that Zimbabwe’s economy will this year grow by 3.7 per cent reducing the growth projections from the initially 4.3 per cent. 

Revised projections are, however, still below the Ministry of Finance’s forecast of 5.5 per cent which is subject to review in the mid-term budget next month. Said the Bretton Woods institution:

The economy is projected to continue to recover in the medium term, amid downside risks. GDP is projected to grow by 3.7% in 2022 but slow down in the medium term as the positive base effects diminish. The downward revision is based on worsening agriculture conditions (output set to contract by 1.5% in 2022 from double digit-growth in 2021 based on falling rain levels and rising prices of key inputs) and global price increases amidst supply-side disruptions. Mining production and exports are expected to benefit from continuing high international prices while tourism, trade, and transport are likely to start recovering with positive spillover effects on other sectors. The risks to the outlook are significant with heightened global risks as global growth slows down and uncertainty about the pandemic remains. Domestic risks also weigh on growth performance and are linked to climatic shocks, and expansionary fiscal and monetary policy thereby delaying economic recovery.          

WB also projected that poverty levels will further decline in 2022, albeit marginally as conditions for a good harvest deteriorate, prices remain high, and the capacity of the social system to target and reach the poor with adequate social safety nets is constrained.

The World Bank says if inflation is not adequately managed, the purchasing power of incomes will be eroded, putting more people in or at risk of poverty and delaying improvements in basic service delivery.

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Blue 💙 2 months ago

Get outta here World Bank. Like really, the economy is going to grow by 3.7%🙄. Mugano said the economy is going to crash by June( maybe month end, but that would make it July. Huh.)
Where are the naysayers? 😅

Turoo 2 months ago

Economic growth haina zvainobatsira kana masalary asingawedzerwe

matare 2 months ago

increasing households incomes it means straining the national budget especially inthe event of civil servants , therefore, it is a tacit and nod ideal interms of economic growth
we are facing what is called monetary inflation.

Jah🇿🇼Tsvarie-07 2 months ago

Economists sometimes say two different things inside one second, jus wait you will hear it differently from the same mayb before the end of this month and wonder 😀
tichikura tainzwa vakuru vachiti uyo akapengesewa nekudzidza sterek, now ndakuzviona...

🤦 2 months ago

I nolonger trust these so called economists, they will be day dreaming sometimes..

Blue 💙 2 months ago

Asi Mugano ndiye wamunoda kaa🤣?

Asalif 2 months ago

these economic analysts from outside the country where exactly do they get these percentages from we the citizens seeing companies shutting down and scaling down productions unemployment rate is at it's peak , I think they get paid to tell these lies it's good as match fixing

Blue 💙 2 months ago

Eish, we can't trust RBZ, we can't trust the World Bank, saka munozoda aniko? Munongoda vanotaura zviri negative why?😂

collins 2 months ago

growth ipiko when the country is in much more turmoil than the previous years, and continues declining each single day, sky rocketing inflation, stagnant renumeration, wohwa umwe achitaura surplus ye rtgs yakonzerwa ne inflation. nxaaaaa ne world bank wo vanoziva situation paground here

Blue 💙 2 months ago

Guys 🤣. Achazotaura zvamucha bvumawo ndiani? Kasi mukutoda Jesu mhune?


collins 2 months ago

@blue we trust the situation on the ground, it tells the whole story,

Zim 1 2 months ago

zvakafanana nekuti munhu arikumbanya ari kwekupedzisira ,wonzi number 1 mhanya

Tateguru 2 months ago

World Bank deals with banking and bank balances, manje ma Zimbubwean havabhenghi zvekumanya.

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