Economy expected to surpass the 7,8% projected growth rate

By ZBC Reporter

The Ministry of Finance and Economic Development says the country is on a positive economic growth trajectory buoyed by activities in the mining and agricultural sectors.

Permanent Secretary in the Ministry of Finance and Economic Development, Mr George Guvamatanga says the good performance of the mining and agricultural sectors has propelled the country towards achieving and possibly surpassing the targeted 7,8% economic growth rate .

The government official was speaking after visiting the Zimbabwean pavilion at the ongoing Expo2020 Dubai.

We expect the economy to remain on a growth trajectory of 7,8%. But the number we are seeing from maize and wheat production and higher commodity prices in mining show we will even surpass that,he said.

Mr Guvamatanga, noted that the 36% growth in export earnings has resulted in a positive trade balance reflected by the 1, 7 billion in FCA accounts.

The latest figures show 36% increase on exports which is strong growth that has resulted in the trade balance being positive, he added.

With enquiries on business opportunities coming through at the Zimbabwean Pavilion in Dubai, Mr Guvamatanga said some of the key sectors which the Country is courting investors include the renewable energy and agriculture sectors

Mr Guvamatanga says the government is aware of the behavioral issues which have affected the stability of the exchange rate adding that they are being addressed.

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