Zimbabwe’s economic growth seen at 4% in 2022, mining to expand – Finance Minister

Zimbabwe’s economic growth is expected to end the year at 4% in 2022, down from 4.6% previously targeted, finance minister Mthuli Ncube said in a speech on Thursday.

Growth is then projected to slow to 3.8% in 2023 before increasing to 4.8% in 2024 and 5% in 2025, he said. The overall fiscal deficit is seen at 1.5% of GDP for next year.

“This growth will be sustained by mining, construction and agriculture, as well as accommodation sectors,” Ncube said. 

The mining sector is expected to grow by 10.4% in 2023 on the back of anticipated favourable international mineral prices, as well as increase in investment, especially in exploration, mine development and mechanisation, he added.

REUTERS