The World Bank’s country manager for Zimbabwe, Ms Eneida Fernandes, has commended the Government of Zimbabwe for the progress made under the Transitional Stabilisation Programme (TSP), the National Development Strategy 1 (NDS1) and the National Development Strategy 2 (NDS2), saying the reforms are strengthening macroeconomic stability and boosting confidence in the country’s economy.
Speaking on Zimbabwe’s economic outlook, Ms Fernandes said the country’s economy is in a much stronger position than it has been in recent years, attributing the improvement to sound government policies and reforms.
“Zimbabwe’s economy is stronger than it has been in a very long time. I think there are a lot of policies that have been put in place,” she said.
She highlighted the government’s efforts to improve the business environment, saying the reforms are delivering positive results across key sectors of the economy.
“We talked quite a bit about the work and the presidential programme on improving the business environment. And we are seeing clear growth, not only in the agribusiness sector and manufacturing but also in mining as well, with the cost of gold and lithium going up,” Fernandes said.
She also praised the government’s management of the economy, noting that inflation has declined while investments in critical infrastructure, particularly energy, are expected to support stronger economic growth.
“The diligence of government in managing the economy. Inflation is down. There are great plans for energy upgrades in the country, all leading to growth that we see coming this year, maybe even higher than what we had originally predicted,” she said.
Fernandes further welcomed Zimbabwe’s continued engagement with international financial institutions, saying the government has demonstrated commitment to implementing key economic reforms.
“The government of Zimbabwe has made a big commitment in working with the International Monetary Fund and with the World Bank on some clear policies that are going to be undertaken this year under the Staff-Monitored Programme with the IMF, but also in all of our work on taxes and our public finance management with support from the bank,” she said.
Encouraging the Government to maintain the current reform momentum, Fernandes congratulated Zimbabwe on the progress achieved so far.
“I would just say, continue doing more of what you are already doing. And we really congratulate the government on what you have achieved so far,” she said.
The World Bank country manager’s remarks come as Zimbabwe continues implementing economic reforms under NDS2, with the government targeting sustained economic growth, infrastructure development, improved public financial management and the attainment of Vision 2030.