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IMF reviews growth rates

Apr 19 2017 14:58
Malcom Sharara

Harare - The International Monetary Fund (IMF) has reviewed Zimbabwe’s 2017 gross domestic product growth projections from the -2.5% it forecast in its October 2016 outlook to 2%. 

In its latest report entitled World Economic Outlook, April 2017: Gaining Momentum? the IMF also said sub-Saharan Africa will record an average growth rate of 2.6%. 

However, most regional countries are expected to record growth rates above the sub-Saharan average.

Botswana is projected to grow by 4.1%, Malawi by 4.5% and Zambia by 3.5%. 

South Africa is projected to register a modest growth of 0.8%, with unemployment rising to 27.4%.

World growth is expected to rise from 3.1% in 2016 to 3.5% in 2017, and 3.6% in 2018.

The IMF says growth will be anchored by buoyant financial markets and a long-awaited cyclical recovery in investment, manufacturing and trade. 

The outlook also says metal prices have been firming, supported by higher real estate investment and capacity reduction efforts in China and the anticipated fiscal policy easing in the United States.

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imf  |  africa economy  |  growth forecast



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