Top Stories
Trending

Zimbabwe’s economy growing faster than its neighbours: World Bank

Story Highlights
  • “Zimbabwe’s economy is expected to grow faster than its neighbors, rising from 3.9% in 2021 to 5.1% in 2022," Kariuki said. "By comparison, the average growth rate for sub-Saharan Africa in 2021 is 2.8%. So overall, we note that the recovery of the country is on a positive trend and if sustained, this momentum will impact positively on the lives and livelihoods of people of Zimbabwe.”

By Nompumelelo Sibanda

THE World Bank predicts Zimbabwe’s economy will grow 3.9% this year and that if sustained, this momentum will impact positively on the lives and livelihoods of people of Zimbabwe.

The report says Zimbabweans living in rural areas are doing better than their counterparts in the urban areas thanks to subsistence farming.

Mukami Kariuki, who heads the World Bank in Zimbabwe, says the economy could recover faster depending on how the pandemic and regional economy perform.

“Zimbabwe’s economy is expected to grow faster than its neighbors, rising from 3.9% in 2021 to 5.1% in 2022,” Kariuki said. “By comparison, the average growth rate for sub-Saharan Africa in 2021 is 2.8%.

“So overall, we note that the recovery of the country is on a positive trend and if sustained, this momentum will impact positively on the lives and livelihoods of people of Zimbabwe.”

In the same report, however, the World Bank says the country will see an alarming rise in poverty levels, especially in urban areas.

The report says a record 7.9 million Zimbabweans are “extremely” poor, earning less than 30 U.S. dollars a month.

The World Bank reports 49% of the country’s population now live in poverty due to both the pandemic and ailing economy.

Last week, President Emmerson Mnangagwa’s government said the number of food insecure Zimbabweans has drastically fallen because of the good rains the country has enjoyed during the 2020/2021 agriculture season. – Zimbabwe Voice

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Back to top button
0
Would love your thoughts, please comment.x
()
x
A note to all Zimbabwe Voice News website visitors:

We use cookies to improve our service for you. You can find more information in our Privacy Policy page.