HARARE (Bloomberg) – Business executives are sounding decidedly upbeat in Zimbabwe, a sea change from the pessimism they’ve expressed through two decades of economic mismanagement and institutional decay.
The southern African nation is reaping the benefits of a commodities boom and good summer rains that are bolstering farm output. A series of reforms spearheaded by Finance Minister Mthuli Ncube are also starting to bear fruit, with the economic-growth outlook improving markedly and annual inflation, albeit still at 322%, slowing rapidly.
“If you look back where we were this time last year and where we are now, it’s really day and night,” said Jimmy Psillos, an executive at the Confederation of Zimbabwe Industries and general manager of Harare-based manufacturer Crystal Candy. “The economy is in much much better shape than it was.”
Business Leaders Sound Unfamiliar Note in Zimbabwe: Optimism msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
2021-02-28 10:56:21 GMT2021-02-28 18:56:21(Beijing Time) Xinhua English
HARARE, Feb. 28 (Xinhua) Zimbabwe s current Level 4 COVID-19 lockdown is due to end Monday, with President Emmerson Mnangagwa expected to announce whether there will be an extension or relaxation of restrictions.
The country experienced increased infections and deaths in January and early February following the festive season when there was a lot of traveling, but these have since declined as the government enforced the stringent lockdown restrictions.
For the first time since the beginning of the year, there were no deaths recorded during the 24-hour reporting period for Saturday, while only 14 new cases were confirmed.
Xinhua
ZIMBABWE’S current Level 4 Covid-19 lockdown is due to end Monday, with President Emmerson Mnangagwa expected to announce whether there will be an extension or relaxation of restrictions.
The country experienced increased infections and deaths in January and early February following the festive season when there was a lot of traveling, but these have since declined as the government enforced the stringent lockdown restrictions.
For the first time since the beginning of the year, there were no deaths recorded during the 24-hour reporting period for Saturday, while only 14 new cases were confirmed.
The decline has brought hope that the country has managed, to a great extent, to control the spread of Covid-19, although some people remain cautious, saying that the level of testing remains low and fear that a third wave of the pandemic could still hit the country.
What 2021 Monetary Policy Statement means to you thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.