HARARE, (The Southern African Times) – Zimbabwe’s Finance Minister Mthuli Ncube said Thursday that the southern African country’s economy is expected to grow by 7.4 percent in 2021 after a projected 4.1 percent contraction this year.
Ncube made the projection while presenting the 2021 national budget to parliament in Harare.
“From supply side, this growth will be driven by strong recovery in agriculture, mining, electricity, construction, transport and communication as well as finance and insurance,” he said.
Ncube also announced a raft of measures including stimulus packages for agriculture and manufacturing sectors and tax relief for manufacturers.
Government will focus on macro-stability, developing and supporting productive value chains, human capital development, optimizing value on natural resources and infrastructure, information communication technologies and the digital economy in the coming year, said Ncube.
Earlier this month Zimbabwean President Emmerson Mnangagwa launched the country’s new five-year economic blueprint which targets economic growth rate of 5 percent annually.