Story by Stanley James, Business Editor
THE United Nations (UN) estimates that Zimbabwe’s economy will grow by more than three percent despite various challenges.
The UN revealed in its latest report on Global Economic Prospects that Zimbabwe’s economy will rebound in 2025.
It stated that improvements in mineral production, the construction sector, tourism, and manufacturing as well as agriculture will further boost the overall value of goods and services.
The UN forecast is slightly lower than the 3, 5 percent target by the Treasury.
Findings within the report show that Zimbabwe has to guard against the effects of the El Nino-induced drought, public debts and subdued investments among other economic shocks.
The sentiments by the UN are being made when the World Bank has agreed with the Treasury forecast of a 3, 5 percent jump.
Presenting the 2024 National Budget in November last year, Finance and Economic Development Minister Professor Mthuli Ncube said economic growth is this year anticipated to slow down due to the El Nino phenomenon and declining mineral commodity prices.
The UN report further notes that the global growth forecast will this year slowdown by an average of over two percent.
