Zim poised for positive economic prospects 

Zvamaida Murwira-Senior Reporter

ZIMBABWE is poised for bright economic prospects and better fortunes that will be anchored on agriculture, mining and new innovation from institutions of higher learning despite El Nino-induced drought setback that affected the country and the Sadc region last year.

Analysts and experts have noted that agriculture remains the engine of growth for this year as it will have downstream benefits in electricity generation, industry and the economy in general.

In an interview, different analysts and experts were upbeat about the prospects for the year.

Permanent Secretary for Lands, Agriculture, Fisheries, Water and Rural Development Professor Obert Jiri said interventions by the Government will spur economic growth.

“In the outlook we envisage rebounding of the agricultural sector on the back of a successful 2024 winter season and on the better 2024-2025 rainfall season.

“The climate-proofing agenda for the agricultural sector continues on two fronts: the household level and the national level. At the household level, the Pfumvudza/Intwasa is key, as well as the agro-ecologocal tailoring and matching for maize and traditional grains. At the national level, the emphasis is on irrigation development,” said Prof Jiri.

Confederation of Retailers Association president Mr Denford Mutashu said they remained hopeful about the prospects for 2025.

“CZR hopes the ongoing engagement between Government and the private sector will regenerate a conducive business environment for both commerce and industry. Expectations remain high on levelling the playing field, improving competitiveness and restoration of formal businesses,” said Mr Mutashu.

Economic analyst, Dr Prosper Chitambara said the economy was going to perform better than last year as that was hinged on a good rainfall season.

“We are expecting industry and the economy in general to outperform last year. This expectation is based on the assumption that we are going to have a normal to above normal rainfall season that will boost agricultural production and ultimately help industry and the rest of the economy,” said Dr Chitambara.

Another economic analyst, Mr Brains Muchemwa expressed optimism about this year’s prospects, but implored policy makers to address macro-economic fundamentals like power generation.

“Barring another drought and on the back of the multiple currency environment, the economic prospects for 2025 generally remain positive although persistent power shortages and the tight liquidity conditions in the economy will curtail the extent of the rebound. 

“What is key, going forward, is for policy makers to protect the solvency of the domestic United States dollar clearing and settlement system through strict adherence to a prudent fiscal budget in order to see through the multiple currency regime all the way to 2030,” he said.

A legal practitioner, Advocate Ngobizitha Mlilo said the year will be good, but implored unity among Zimbabweans.