Zimbabwe has lifted its 2025 economic growth forecast to 6.6%, up from an earlier projection of 6%, driven by a stronger-than-expected tobacco harvest and a rally in global gold prices, Finance Minister Mthuli Ncube said on Friday, according to Reuters.
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The Southern African nation’s economy, heavily reliant on commodities, grew by just 2% last year after an El Niño-induced drought cut crop yields and reduced hydropower output, forcing grain imports.
Since then, agriculture has rebounded, with both tobacco and maize production improving, while rising gold prices have 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,” Ncube told an economic conference.
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Image Credit: Reuters
