The Zimbabwean economy is projected to grow faster than previously estimated due to USD1 billion in foreign investments, mostly in infrastructure, and anticipated donor financing, Finance Minister Tendai Biti told Reuters. The African country needs to address its public debt totaling some USD6.2 billion, Biti added. The International Monetary Fund estimated that the nation’s real gross domestic product grew by 4 percent in 2009 due to robust manufacturing and services sectors. Unreliable power supply in Zimbabwe largely hinders the expansion of firms’ production. Companies lose some 15 percent to 20 percent of their production to power cuts, Zimbabwe Independent reports.
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About the author
Ma. Rizza Leonzon
As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.
