The Macro-Economic and Financial Management Institute for Eastern and Southern Africa(MEFMI) says Zimbabwe is on course to achieve the 3.7 percent growth rate this year on the back of policies to resuscitate industry and a good maize harvest.
It emerged at the MEFMI graduation and accreditation ceremony in Harare, stable economic conditions prevailing in Zimbabwe provides an opportunity for increased investor confidence.
The rebound in global prices for mineral commodities as well as a good harvest have already set the tone for improved economic growth, according to the regional economic think tank.
MEFMI executive director, Dr Caleb Fundanga told the ZBC News the projected 3.7 percent economic growth rate is therefore achievable.
“The forecast is indeed achievable and we are just waiting to see by year end,” said Dr Fundanga.
Zimbabwe’s economy has the potential to fully recover, as evidenced by the Rwandese economy which once faced challenges but is now one of the fastest growing economy in Africa, according to the National Bank of Rwanda Governor, Dr John Rwangombwa.
“We really take into account the current challenges but they can still be overcome in the future,” he said.
MEFMI which is headquartered in Zimbabwe also provides technical, financial and capacity building advice to the government.