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An Upward Swing in the Economy is on the Cards for Zimbabwe

A World Bank report says Zimbabweans living in rural areas are doing better than their counterparts in the urban areas thanks to subsistence farming. The report says a record 7.9 million Zimbabweans are “extremely” poor, earning less than 30 U.S. dollars a month. Mukami Kariuki, who heads the World Bank in Zimbabwe, says the economy could recover faster depending on how the pandemic and regional economy perform. “Zimbabwe’s economy is expected to grow faster than its neighbors, rising from 3.9% in 2021 to 5.1% in 2022,” Kariuki said. “By comparison, the average growth rate for sub-Saharan Africa in 2021 is 2.8%. So overall, we note that the recovery of the country is on a positive trend and if sustained, this momentum will impact positively on the lives and livelihoods of people of Zimbabwe.” The World Bank reports 49% of the country’s population now live in poverty due to both the pandemic and ailing economy.