IMF Raises Zimbabwe’s Growth Projections , Attributes It To Agriculture,Mining

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By Gift Kugara

Zimbabwe’s economic growth forecast for 2018 will be higher than an earlier projected, the International Monetary Fund (IMF) said in its latest World Economic Outlook released on Tuesday.

The report entitled Seeking Sustainable Growth – Short-Term Recovery, Long-Term Challenges said new growth projections are anchored by the agricultural and mining sectors.

The IMF projected Zimbabwe to grow  2.8% – up from earlier projections of 2% this year.

The IMF’s latest forecasts are slightly less optimistic than Zimbabwe’s own predictions in March this year where it announced an increase in 2017  GDP growth rate to 3.7% from 1.7% citing the success of its command agriculture.

However, the IMF forecasts are unlikely to offer cheer to struggling Zimbabweans who are currently facing severe cash shortages.

Two weeks ago, there were reports of oil shortages and long fuel ques emerging in most parts of the country raising fears of a repeat of 2008 crisis.