Zim economy to grow by 3,8pc: World Bank PDF Print E-mail
Wednesday, 11 January 2017 19:19

The World Bank has projected an optimistic 3.8 percent growth rate for Zimbabwe in 2017 above the modest treasury forecast and sees growth for Sub-Saharan Africa at 2.9 percent this year.

The latest World Bank edition of the global economic prospects paints a positive picture of the global economy which is projected to register 2.5 percent growth in 2017.

Economic analyst, Dr Gift Mugano described the projections for Zimbabwe as too optimistic and called for more concerted efforts in speeding up the domestic economic reform process in order to unlock more investments and to spur increased economic activities.

The global lender has noted that Sub-Saharan African growth is expected to pick up modestly to 2.9 percent in 2017 as the region continues to adjust to lower commodity prices.

Growth in South Africa and oil exporters is expected to be weaker, while growth in economies that are not natural-resource intensive should remain robust.

Zimbabwe’s largest trading partner, South Africa’s growth is expected to edge up to a 1.1 percent pace this year, while Nigeria is forecast to rebound from recession and grow at a 1 percent rate.

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