Zimbabwe maintains 5,5 percent growth forecast

 By Stanley James, Business Editor

TREASURY is sticking to its economic growth forecast of 5,5 percent this year based on improved agriculture, manufacturing and mining output.                  

A paper on macro-economic stabilisation policies and roadmap to attain an upper middle-income economy was delivered to students at the Zimbabwe Staff College by the Minister of Finance and Economic Development, Professor Mthuli Ncube, who was represented by his Chief Director of Communications, Mr Clive Mphambela.         

The treasury chief’s representative told ZBC news after the presentation that fiscal authorities are confident of achieving the set growth target.        

 “The target is really achievable as we take a step further and the nation should note that such reforms are at the core of the attainment of Vision 2030,” he said.          

Mr Mphambela also outlined the economic recovery path that has allowed the country to transition from the recovery to economic growth trajectory.

 “Macro-economic stability is a top priority for government, we are cognisant that there are broader issues which require a holistic approach, including enhancing domestic production, confidence issues and addressing the environment for doing business,” he added.

Key indicators of economic growth include reduction in inflation, sudden rise in local commodity stock, revival of the manufacturing sector, curbing of fiscal deficits, infrastructure development agenda and restoring confidence in the local currency, among others.