IMF confirms Zimbabwe budget surplus is real




Finance and Economic Development Minister Professor Mthuli Ncube

The International Monetary Fund has confirmed that Zimbabwe’s current account surplus is real, saying it averaged 4.7% of gross domestic product per year from 2019 to 2021.

In its report released today, the IMF said the surplus was due to increased mineral exports, foreign exchange restrictions, lower global oil prices and a surge in remittances from Zimbabweans in the diaspora.

The report also said Zimbabwe recorded a growth of 6.3% last year. This is expected to drop to 3.5% this year and to 3% next year.

Source: The Insider