HARARE, Sept. 19 (Xinhua) -- Zimbabwean Finance Minister Mthuli Ncube on Friday raised the country's growth projection to 6.6 percent this year, up from the initial forecast of 6 percent, owing to a larger tobacco output and surging global gold prices.
"The higher projection is on account of more than anticipated output in the agricultural sector, particularly tobacco, following favorable climatic conditions and mining sector growth buoyed by high commodity prices, notably gold," Ncube said at a business conference in Bulawayo, the second largest city in Zimbabwe.
Tobacco and gold are Zimbabwe's largest agricultural and mineral exports, serving as major foreign currency earners for the southern African country.
Ncube noted that despite global headwinds and exogenous shocks, including climate change, commodity price fluctuations, and energy supply constraints, Zimbabwe's economy remains resilient.
"In 2025 and beyond, our economy is poised for a strong recovery and sustained growth following the drought-induced slowdown we experienced in 2024. This turnaround will be driven by vibrant and strategic sectors such as agriculture, mining, and manufacturing, which continue to form the backbone of our economic resurgence and transformation," he said.
Last year, Zimbabwe's economy recorded a growth of 2 percent due to the impact of an El Nino-induced drought and energy shortages.
