See the justification behind Zimbabwe’s projected GDP growth of 6% in 2023 rising from 3.8%.

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See the justification behind Zimbabwe's projected GDP growth of 6% in 2023 rising from 3.8%.
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In December, the IMF reported that Zimbabwe’s real GDP growth is anticipated to drop from 8.5% a year earlier to roughly 3.5%.

The bank listed other shocks that may continue to harm Zimbabwe’s prospects for economic growth, including a spike in inflation, irregular rainfall, and electricity shortages. Ncube claimed that Zimbabwe was discussing with the World Bank and IMF in October 2022 about how to pay off its debts to foreign financial organizations.

“The IMF mission notes the authorities’ efforts to stabilize the local foreign exchange market and lower inflation,” it said, pointing to the swift tightening of monetary policy, increased latitude in official exchange rates, and a cautious budgetary approach.

There is still a great deal of uncertainty, and the IMF indicated that the economic outlook will depend on the effectiveness of essential initiatives and the development of external shocks.

 

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