THE International Monetary Fund (IMF) has revised downwards its 2024 growth forecasts for Zimbabwe to 3,25 percent from an earlier projection of 3,6 percent due to drought and lower commodity prices.
The Bretton Woods institution said the economy grew 5,3 percent last year on the back of an expansion in agriculture and mining, and buoyed by foreign currency inflows and remittances in the highly dollarised domestic trade and services.
The projections come as the World Bank concurred with Treasury’s projections of 3,5 percent, citing a slump in commodity prices, El Niño effects and high global inflation.