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Projections made by the IMF and the RBZ on Zimbabwe's economic growth contradicting

The projections that have been made by the International Monetary Fund and the Reserve Bank of Zimbabwe regarding the economic growth of Zimbabwe are contradicting.The former predicts a negative growth whilst the later predicts a positive economic growth for Zimbabwe in 2021.

The year 2020 was a tough year for the nations around the globe as a result of the Covid-19 pandemic. Economies had to be brought to a standstill as countries battled to curb the Covid-19 pandemic that has done a lot of damage socially and economically .Zimbabwe like the rest of the world has also been affected even though there is hope that its economy will improve.

Looking at the growth of the Zimbabwean economy, the Independent News reported to two different predictions that have been made in regard Zimbabwe's economy. It is reported that the International Monetary Fund made a prediction that Zimbabwe's economy will shrink by 10.4 percent in the 2021 business year.

Dr John Mangudya the RBZ Governor

On the other hand , the Reserve Bank of Zimbabwe is reported to have made a projection that the economy of Zimbabwe will grow by 7.4 percent, which is in direct contrast to the projection made by the International Monetary Fund for 2021.

A few days ago when the Reserve Bank of Zimbabwe Governor expressed confidence in the growth of the economy of Zimbabwe as a result of the good rains received by the country.He said that the good rains increases potential for the Agriculture industry to achieve a good harvest essential for the growth of the economy of Zimbabwe.

https://www.theindependent.co.zw/2021/02/27/economic-issues-round-up/amp/

Content created and supplied by: Mahwira (via Opera News )

IMF International Monetary Fund John Mangudya Reserve Bank of Zimbabwe Zimbabwe

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