Zimbabwe’s economy is expected to contract this year due to a drought and severe power cuts, Finance Minister Mthuli Ncube said on Thursday, without providing a figure.
The country had initially forecast the economy to grow 3.1 percent in 2019.
Ncube also said Zimbabwe would defer publication of year-on-year inflation until February 2020 following the adoption of a new currency in June.
Prices of basic goods and services have more than doubled since June, piling pressure on citizens struggling with shortages. That has stirred memories of economic chaos a decade ago, when rampant money-printing fuelled hyperinflation and forced the country to abandon its currency in 2009.
READ MORE
Is Kenya truly on the journey to economic transformation?
Zimbabwean lawyer Brian Kagoro detained, deported on arrival in Nairobi
Why it won't be easy for Kenya to slay monster of corruption
Collaboration key in management of safety in the petroleum sector
