By Tarisai Mudahondo
Zimbabwe’s Gross Domestic Product (GDP) is set to reach US$66 billion this year, 88 percent higher than the previous forecast which was US$35 billion, financial analyst has reported.
GDP is a measure of all activity of companies, governments and individuals in a country and when an economy is growing each quarterly GDP figure is slightly bigger than the previous three months.
In a survey conducted by World Economics, ” The official estimate for Zimbabwe’s GDP was US$35 billion at the end of 2022 in purchasing power parity terms, it estimates Zimbabwe’s GDP to be $66 billion”.
Economist and former Reserve Bank of Zimbabwe Monetary Policy Committee member Eddie Cross said that the projected growth figures were indicative of Zimbabwe’s current economic growth and there is no doubt that the country’s economy had a GDP of US$17 billion in 2017″.
Real GDP is projected to grow by around 4,8 percent in 2023 supported by strong activity in the mining sector and reflecting the beneficial impact of structural reforms in agriculture and energy sectors.
The World Economics’ GDP database provides a radically different view of economic activity in over 155 countries of considerable relevance and utility to investors of all kinds.