HARARE – Zimbabwe’s economy is projected to contract by up to 6% this year due to a drought that hit farming output and electricity generation but is expected to rebound next year on better agriculture prospects, a treasury document showed on Monday.
The southern African nation’s economy is grappling with its worst crisis in a decade, with triple-digit inflation, rolling power cuts and shortages of U.S. dollars, medicines and fuel that have revived memories of the 2008 hyperinflation under late President Robert Mugabe.
(Reuters)