HARARE - Zimbabwe’s Finance Minister announced the rebasing of the economy on Wednesday, following the adoption of a new currency earlier this year, and said growth would be slowed this year by a drought and a cyclone that hit eastern regions.
Rebasing the economy broadly means changing the reference points used to calculate the country’s gross domestic product. Ncube said the economy had grown by 6.2% in 2018 compared to an initial forecast of 3.1% but he saw growth being throttled this year by “severe economic shocks”, including a drought that has wilted crops and a cyclone that hit western parts of Zimbabwe in March.
How many 'new' currencies have Zim adopted since Zanu PF's crazy anti-developmental policies were fed unto the Zim people?
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Be patient, urges Zim finance minister as inflation continues to climbArresting inflation has proven to be an impossible task for Zimbabwe’s finance minister, professor Mthuli Ncube. He says he needs another year to yield positive results.
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