Mthuli Ncube Backtracks From Earlier GDP Projections

Zimbabwe’s Minister of Finance and Economic Development, Professor Mthuli Ncube has today projected that the 2020 Growth Domestic Product (GDP) will be at 3%.

The new projection marks a sharp departure from his earlier projection of 4.6%.

His remarks come when the country’s economy is rapidly deteriorating due to power cuts, drought, cyclone Idai, inflation and cash shortages.

In his earlier presentations, Ncube said his projections were based on the anticipation of good rains between 2019 and 2020 noting that they were key to sectors such as Agriculture and Power.

More: NewZWire


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