Zimbabwe finmin sees inflation below 10 pct by year-end

HARARE (Reuters) – Zimbabwe’s annual inflation is expected to slow down to below 10 percent by the year-end on expectations that the government will cut the budget deficit by half, and reduce money supply growth, Finance Minister Mthuli Ncube said on Tuesday.

Inflation rose to a 10-year high of 59.39 percent year-on-year in February from 56.9 percent in January.

Economic reforms being pursued by treasury had started bearing fruit, with the government recording budget surpluses and increased revenues since November, Ncube wrote in an article featured in the NewDay newspaper.