22 January 2018
   
Winky D gives voter registration oomph
Cholera: Zim on high alert as 4 killed
ANC confirms Zuma exit discussion
Government orders blood price reduction
- One day’s supply left of key blood group
Kasukuwere begs ED for forgiveness: official
Chinamasa to divert wages to devolution
Dump Mugabe regalia, Zanu PF official
MORE NEWS
Gemmology center in Mutare soon
NRZ loss as gold miners damage rail line
MORE BUSINESS
Unpaid Mr ugly reports sponsors to ZRP
Zim author releases new book in USA
MORE SHOWBIZ
Billiat might still leave: Sundowns coach
Anger as Dembare approach City player
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Economy to grow 3,2pct this year, to marginally expand till 2017 – World Bank
15/01/2015 00:00:00
by The Source
 
 
RELATED STORIES

ZIMBABWE’S economy will grow by 3,2 percent this year — faster than the global average — and pick up to 3,7 percent next year, the World Bank said in its latest global report.

The projection is in line with government estimates that have also put gross domestic product growth projections at 3,2 percent for 2015.

In its Global Economic Prospects 2015 report published under the theme, “Having fiscal space and using it,” the financial agency said the global economy would grow by three percent this year from 2,6 in 2014 and by 3,3 percent next year.

According to the report, Zimbabwe’s economy will grow by 3,4 percent in 2017 on the back of a stability and growth in commodity prices.

A decline in commodity prices would however hit hard on the country’s trade balance as well as that of the rest of sub-Saharan Africa which would call for “significant policy changes.”

“Fiscal buffers need to be rebuilt to ensure the effectiveness of fiscal policy in the future,” said Basu.

The report comes hardly a month after the Breton Woods institution rekindled its relationship with Zimbabwe after having financially isolated the country for over a decade.

The global development agency suspended aid to Zimbabwe in 2000 after it defaulted on its arrears but announced in December it would assist Zimbabwe mobilise resources for various development programmes through a multi-donor trust fund it has named the Zimbabwe Reconstruction Fund (ZimRef).

The World Bank, which last year twice revised its GDP growth projections for the country, is expecting to raise $100 million for ZimRef this year.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker