Chinamasa projects 4,8% economic growth in 2017

While addressing legislators who are attending the ongoing 2017 pre-budget seminar, Finance Minister, Patrick Chinamasa said Zimbabwe’s economy is projected to grow by average 4.8 percent in 2017 from the revised 1.2 percent in 2016 driven mainly by the anticipated improvement in agriculture production, manufacturing and construction sectors.

He said the recently embraced Special Economic Zones legislation was also expected to have a huge bearing in enhancing the investment climate in the country going forward. In his projections, the economy would grow by 4.8 percent in 2017 from the subdued 2.7 percent growth projection for this year. The minister said revenues of about $4 billion, which represent 26 percent of GDP, are to be generated.

Minister Chinamasa, however, expressed concern over the continued negative trade. He reported that exports for the period January to September stood at $1.766 billion against imports of $3.778 billion, giving a trade deficit of $2.013 billion.