Zim’s economic output rises to US$47 billion

President Mnangagwa addresses thousands of people who gathered at Uhera Stadium, Murambinda B High School, in Buhera for the country’s 44th Independence Day celebrations last week. — Picture: Believe Nyakudjara
Kuda Bwititi recently in BUHERA
THE value of goods and services produced in Zimbabwe, as measured by the gross domestic product (GDP), has shot up from US$16 billion in 2018 to over US$47 billion this year, underlining the pace of economic growth over the past five years, President Mnangagwa has said. Zimbabwe’s economy grew by 8,5 percent in 2021 and a further 6,5 percent in 2022. Last year, the economy is estimated to have grown by 5,5 percent. Despite the El Niño-induced drought that affected the 2023/2024 summer cropping season, the Government expects growth to top 3,5 percent this year. In his keynote address at the main 44th Independence Day celebrations in Buhera, Manicaland province, on Thursday, President Mnangagwa said such progress demonstrates Zimbabwe’s resilience. “The overall economic outlook remains bright. Our country’s GDP is now exceeding US$47 billion, up from US$16 billion in 2018. ReadMore