• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Zimbabwe’s Economy Is Resilient Despite Drought, Minister Ncube Says

9 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
41
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Zimbabwe’s Economy Is Resilient Despite Drought, Minister Ncube Says

Zimbabwe‘s economic fortunes are looking up, despite the nation having to contend with a crippling drought and being shunned by capital markets since a 1999 debt default, Finance Minister Mthuli Ncube said.

“We’ve learned to manage our affairs properly” and are “living within our means and it’s showing,” he told Bloomberg TV in an interview in Johannesburg on Thursday. “The economy is set to grow 2% and is showing lots of resilience even with the worst drought in 40 years.”

This year’s anticipated expansion contrasts with a 7% contraction in 2019, when the southern African nation also confronted a dry spell. A budget deficit of 1.4% of gross domestic product is expected by year-end, which Ncube said is among the lowest it has posted.

“We have a current-account surplus for the sixth-year running which means the external balances are not a risk to the currency and the fundamentals,” the minister said.

Zimbabwe, alongside neighboring Zambia and Malawi were among the worst affected by an El Niño-induced drought that led to widespread crop failures across southern Africa.

About three-quarters of Zimbabwe’s output of corn, which is mainly grown by subsistence farmers who are reliant on rainfall, was wiped out, according to Ncube. Other cereal crops that are mainly grown by commercial farmers who irrigate their fields weren’t as badly affected, with a bumper wheat harvest expected this year, he said.

RelatedPosts

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

“We’re going to be self-sufficient for wheat,” Ncube said. “We produced almost 600,000 metric tons of wheat and will be exporting it.”

As part of its drought-mitigation strategy, the country plans to expand the number of areas that will be covered under an agricultural insurance program in 2025.

Earlier this year, the African Union’s climate insurance agency paid $32 million to Zimbabwe as part of a $60 million payout to drought-ravaged countries in the region.

Source: bloomberg
Via: norvanreports
Tags: Economy Is ResilientMinister Ncube SaysZimbabweZimbabwe’s Economy Is Resilient Despite Drought

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

ChatGPT Captures 48.36% of All AI Tool Traffic

Aid to Regional Partnerships: Japan’s New Strategic Approach to Economic Engagement with Africa

Trending

Business

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

August 25, 2025

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears The Ghana Revenue...

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

August 25, 2025

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

August 25, 2025

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

August 25, 2025

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.