Economy Growing Significantly – Mangudya Points To Company Results

The economy is growing significantly, RBZ governor John Mangudya has said, pointing to “impressive” financial results by listed companies.

Mangudya is quoted by the Sunday Mail:

A number of firms such as Delta, Econet, OK, Proplastics, Edgars, Seed  Co and others recorded impressive results that were released in the past few weeks. 

Such excellent results could not have been achieved if the economy was not expanding. Business confidence has also significantly improved during the past six months as is evidenced by the increase in consumer spending, including the increase in the demand for fuel of around 30 percent

Exports have responded very positively to the export incentive scheme; more so, given the firmness of the US dollar.

Foreign currency receipts went up by 15 percent to $2,8 billion during the period January to May 2018 compared to the same period last year, with the bulk ($1,8 billion) being exports, $470 million loan proceeds and $500 million Diaspora and international remittances

More: Sunday Mail

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