{"id":38950,"date":"2021-04-21T17:52:44","date_gmt":"2021-04-21T15:52:44","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=38950"},"modified":"2021-04-21T17:02:59","modified_gmt":"2021-04-21T15:02:59","slug":"mthuli-ncube-optimistic-about-growth-forecast-due-to-good-rains","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-optimistic-about-growth-forecast-due-to-good-rains","title":{"rendered":"Mthuli Ncube Optimistic About Growth Forecast Due To Good Rains"},"content":{"rendered":"

Africa-Press<\/a> – Zimbabwe<\/a>. <\/strong><\/span>Bloomberg<\/b> – DUBAI: Zimbabwe\u2019s treasury is sticking to its growth estimate of 7.4%, even after its president said the projection would have to be revised.<\/p>\n

The forecast is \u201cachievable\u201d after the country had good rains that will boost farm output to the highest in four years, finance minister Mthuli Ncube said in an interview with Bloomberg Television on Tuesday. The International Monetary Fund expects the economy to grow 3.1% this year, after contracting for the past two.<\/p>\n

\u201cZimbabwe is coming through this recovery phase quite well,\u201d Ncube said. \u201cMining remains strong. Our infrastructure investment programme is also quite strong. There\u2019s really a recovery across the board, except the tourism sector.\u201d<\/p>\n

President Emmerson Mnangagwa said at the weekend the treasury would \u201chave to revise\u201d its projection because of expectations that new waves of coronavirus infections will curtail economic output.<\/p>\n

The country has annual inflation of 241%, foreign-currency shortages, and the disposable incomes of most workers who earn in local currency has shrunk. The Zimbabwe dollar now trades at 84 to the US dollar after being pegged at parity just two years ago.<\/p>\n

The gap between the official exchange rate and parallel market has widened by 36%, with a US dollar selling for 115 Zimbabwean dollars on the streets of Harare.<\/p>\n

The gap between the official rate and the parallel market rate is \u201cwithin global norms\u201d, Ncube said.<\/p>\n

\u201cIt used to be as high as 300%.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Bloomberg – DUBAI: Zimbabwe\u2019s treasury is sticking to its growth estimate of 7.4%, even after its president said the projection would have to be revised. The forecast is \u201cachievable\u201d after the country had good rains that will boost farm output to the highest in four years, finance minister Mthuli Ncube said in […]<\/p>\n","protected":false},"author":84,"featured_media":38949,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[1493,2189,19],"class_list":["post-38950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zimbabwe-2","tag-zimbabwe"],"yoast_head":"\nMthuli Ncube Optimistic About Growth Forecast Due To Good Rains - zimbabwe<\/title>\n<meta name=\"description\" content=\"Bloomberg - DUBAI: Zimbabwe\u2019s treasury is sticking to its growth estimate of 7.4%, even after its president said ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/mthuli-ncube-optimistic-about-growth-forecast-due-to-good-rains\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mthuli Ncube Optimistic About Growth Forecast Due To Good Rains\" \/>\n<meta property=\"og:description\" content=\"Bloomberg - 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