Zimbabwe

Zimbabwe Economic Outlook

  • Zimbabwe’s economy remains in a fragile state, with an unsustainably high external debt and massive deindustrialisation and informalisation. The average GDP growth rate of 7.5% during the economic rebound of 2009-12 is moderating. This economic slowdown is due to liquidity challenges (e.g. the lack of and high cost of capital and revenue underperformance), outdated technologies, structural bottlenecks that include power shortages and infrastructure deficits, corruption and a volatile and fragile global financial environment.
  • The constrained fiscal space has forced the government to adopt a contractionary fiscal policy stance, while the use of the multi-currency regime limits the use of monetary policy instruments.
  • Much remains to be done in Zimbabwe to improve the business environment. Key challenges to doing business in Zimbabwe include policy inconsistency, funding constraints, corruption, inefficient government bureaucracy and inadequate infrastructure.

Contacts

Southern Africa Resource Center (SARC)

African Development Bank Group
339 Witch-Hazel Avenue
Highveld Ext. 78
Centurion, South Africa

Tel: +27 12 003 6900

Mr. Ebrima Faal, RRC Director

Zimbabwe field office

African Development Bank Group
5th Floor Joina City
Cnr. Jason Moyo Ave/Julius Nyerere Way
Harare, Zimbabwe

Phone: (263) 4 752 917/838
Fax: (263) 4 779 398

Mr. Mateus Magala, Resident Representative

Key Facts

Flag:
Capital: Harare
Area: 391,000 sq km
Total Population 2013: 14.2 Million
Urban Population 2013: 39.58%
Female Population 2013: 50.63%
GDP: US$ 10.4 Billion
GNI Per Capita 2013: US$ 650
Inflation Rate: 4.14%
Crude Birth Rate (per 1000): 31.26%
Human Development Index (rank / 187): 172
Human Development Index (scale 0 to 1): 0.397
Membership Date: 23/06/1980
Cumulative Approvals (1967-2013): UA 759.9 Million

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