• Inside Labour

    Without radical policy change SA's social fabric will continue to fray, says Terry Bell.

  • Long live your gadget

    Real gadget protection tends to cost real money, writes Arthur Goldstuck.

  • Taking SA for a ride

    The ANC seems to think all South Africans are idiots, says Mzwandile Jacks.

Data provided by iNet BFA
Loading...
See More

Zim forecasts higher economic growth

Sep 24 2010 10:42 Sapa-AFP

Related Articles

Multiple currency regime to stay in Zim

Branson urges investment in Zim

Zimbabwe hopes for 7% growth

Zimbabwe airline workers strike

Zimbabwe negotiates R3.25bn credit from SA

Zim gets diamond polishing centre

 
Harare - Finance Minister Tendai Biti says Zimbabwe's economy will grow by 8.1% this year on the back of increased tobacco production, up from his previous forecast of 5.4%, reports said Friday.

"In the mid-term budget, we announced that we had revised our projected growth rate from 7.7% to 5.4% in July because of slow performance of the economy in the first half of the year," state-run daily, The Herald quoted Biti.

"I am pleased to advise a major rebound in the second half of the year. Growth projections for December 2010 would be 8.1% because of a serious rebound in agriculture." Biti singled out the tobacco crop, the report said.

Zimbabwe's tobacco selling season ended early this month with a record 122 million kilogrammes having been sold.

This years' crop output surpassed the initial 77 million kilogrammes anticipated at the start of the year.

According to government estimates, tobacco accounts for more than 50% of agricultural exports - which translates to about 30% of Zimbabwe's total exports.

Zimbabwe's economy is showing signs of recovery since the formation of a power-sharing government between long-ruling President Robert Mugabe and his rival Prime Minister Morgan Tsvangirai.

The southern Africa country's economy grew by 4.7% last year, ending 12 years of contraction.
zimbabwe
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

“Hippie sense makes business sense,” an entrepreneur said, adding that "purpose" was core to success.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...