Zim economy to grow by 3%, says World Bank

Zim economy to grow by 3%, says World Bank
Published: 25 April 2014
The Zimbabwean economy will grow by at least 3% in 2014, according to a World Bank report.
According to the World Bank's Zimbabwe Economic Briefing for April 2014, the country's gross domestic product is expected to grow by 3%, dragged by headwinds from the global economy, low investments and weak growth of the mining sector.
"The carry over effects of the 2013 slowdown are also likely to weigh down on 2014 growth," said the World Bank, referring to Zimbabwe’s 2013 growth rate which decelerated to an estimated 1.8%.

The World Bank says agriculture in Zimbabwe is expected to rebound by 7.3% in 2014, largely supported by recovery in maize (to 1.2 million tons).
"Recovery in the mining sector remains muted, with expected 3.3% growth in 2014, saddled by still lower international prices and subdued investment."
The manufacturing sector will remain lacklustre, at 1.4% in 2014, stifled by low investment, declining competitiveness pressures, and further tightening of credit conditions.

Overall the World Bank believes 2014 growth projections will be sensitive to the pace at which the Zimbabwean government moves to address macro-economic vulnerabilities, structural impediments to investment, international prices, and the coherency of policy responses.

Zimbabwe Economic Briefing - April 2014 - World Bank

- fin24
Tags: WorldBank,


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