Zimbabwe’s economy is set to demonstrate steady resilience, with projected growth of 2% this year despite global economic pressures, according to Finance and Economic Development Minister Mthuli Ncube. Speaking at the Zimbabwe National Defense College, Ncube explained that while growth has slowed from previous years’ average of 6.8%, the country remains on a stable path forward.
The current dip in growth is largely attributed to a downturn in agriculture, a key pillar of Zimbabwe’s economy. Additionally, Zimbabwe faces heightened challenges from geopolitical tensions and fluctuating commodity prices, which have strained sectors reliant on fuel imports. While most mineral prices have seen declines, Ncube noted that gold prices continue to remain strong, providing a stabilizing force in the country’s export revenue.
Despite these challenges, Ncube remains optimistic, reaffirming Zimbabwe’s goal of achieving middle-income status by 2030. He cited recent years’ average growth rates, which have consistently exceeded 5%, as a positive indicator of the economy’s capacity to withstand external pressures and sustain progress toward long-term development goals.
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