Zimbabwe now sees its economy growing 6.6% this year, higher than an earlier projection of 6% due to a bigger tobacco harvest and this year’s rally in the global gold price, its finance minister said on Friday.
Last year, the Southern African country’s commodity-dependent economy recorded growth of 2% as an El Niño-induced drought hit crop yields and hydropower, forcing it to import grain.
Agriculture has since recovered, with tobacco and maize output improving, while the gold price rally has boosted mining revenues.
“The higher projection is on account of more than anticipated output in the agricultural sector, particularly tobacco, and mining sector growth buoyed by high commodity prices, notably gold,” Finance Minister Mthuli Ncube told an economic conference.
