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Zimbabwe: Is the government’s strategy of balancing the books paying off?

By Farai Shawn Matiashe
Posted on Wednesday, 7 July 2021 11:01

Zimbabwe's finance minister Mthuli Ncube arrives to present 2021 national budget to parliament in Harare, Zimbabwe, 26 November 2020. REUTERS/Philimon Bulawayo

The Zimbabwean government is hyping the country's good headline statistics, but the country's economic problems – no new aid from development institutions amidst high inflation, high unemployment and high levels of poverty – remain unchanged.

In early June, President Emmerson Mnangagwa’s government boasted of a budget surplus of $Z9.8bn ($19.5m).

The announcement of the budget surplus by finance minister Mthuli Ncube came amid a report by the World Bank that projected economic growth in Zimbabwe will reach 3.9% in 2021, a significant improvement after a two-year recession.