Zimbabwe to cancel import duty on food as cushion from El Niño

Bloomberg

Zimbabwe plans to cancel duty on food imports to help cushion prices from the impact of potential crop shortages caused by the El Nino weather pattern, said Finance Minister Mthuli Ncube.

The measure is part of a package the southern African nation will roll out to help buffer the cost of living from such a climate shock, as well as the fallout from conflicts in the Middle East and Ukraine that have pushed up food and fuel prices.

“We have a six or seven-pillar strategy,” he told reporters in Bulawayo, Zimbabwe’s second city, on Friday, adding that economic growth for 2027 was still projected for 5%.