Zimbabwe Within AfDB Africa Economic Growth Range HeraldZimbabwe: Africa AfDB Zimbabwe economy investment governance
Despite the adverse impacts of Covid-19 and other global shocks like supply chain disruptions caused by the conflict in Ukraine, Zimbabwe has remained resilient. The World Bank predicted the economy would grow by 3,4 percent in 2022.
The agriculture sector feeds about 70 percent of the raw materials required in the manufacturing sector. The mining sector is expected to grow by 10,4 percent underpinned by anticipated favourable international mineral prices, as well as increase in investments. The Government is working to strengthen the governance framework for the mining sector in order to improve confidence and investment in the sector.
With a comprehensive regional growth analysis, the report shows that all the continent's five regions remain resilient with a steady outlook for the medium-term, despite facing significant headwinds due to global socio-economic shocks. It also identified potential risks and called for robust monetary and fiscal measures, backed by structural policies, to address them.
"Slowing global demand, tighter financial conditions, and disrupted supply chains therefore had differentiated impacts on African economies," he said."Despite the confluence of multiple shocks, growth across all five African regions was positive in 2022--and the outlook for 2023-24 is projected to be stable."
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