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Analysis by Region - Emerging Markets - Zimbabwe

Publisher Oxford Economics
Published Mar 24, 2022
Length 6 Pages
SKU # OFE17050688

Description

Analysis by Region - Emerging Markets - Zimbabwe

Business activity generally improved in Q3 2021. According to the Reserve Bank of Zimbabwe (RBZ), this was due to a stable macroeconomic environment coupled with the easing of Covid-19 restrictions. Official estimates show that agricultural sector growth has been revised upwards to 36.2% in 2021, on the back of higher-than-expected estimates of tobacco, wheat, cotton, beef and pork output, among others. Elsewhere in the primary sector, local industry recorded a mixed performance during Q3. Gold, diamond, coal and granite reported robust growth, while PGMs, chrome and nickel experienced a moderation in growth. Domestic credit grew by 32.3% q-o-q in Q3, from ZWL$170.2bn to ZWL$225.1bn at the end of September 2021. Overall, the improvement so far in H2 has prompted us to lift Zimbabwe's estimated economic growth rate to 5% in 2021.

Table of Contents

6 Pages
Zimbabwe: Economy forecast to expand by 2.6% in 2022
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics
How Do Licenses Work?
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