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Zimbabwean Economy expected to curve-in further into 2023

by Mzingaye Nxumalo
30 Dec 2022 at 17:41hrs | Views
The Economic Intelligence Unit (EIU), a global team of Economists with over 70 years of experience in Economic analysis has predicted a continued fall in Zimbabwe's Economy together with the value of the Zimbabwean Dollar up until 2023.

In a yearly report focusing on Africa entitled, "Africa Outlook 2023, The Challenges Ahead", the Economical group predictions state that Zimbabwe will suffer a very highly disrupted Economy due to the coming "Disputed National Elections".

In tabular form, the group analysts believe that the chances of the Economy getting affected are high, which according to their scale is inevitable. Again the impacts are expected to be very high with a risk intensity of a maximum 20 rating.

This mention was alongside other African countries like DRC, Libya, Mali and Nigeria who are also to hold their elections next year.

Unfortunately for Zimbabwe, "the exchange rates will remain under pressure", reports the group. The Economic Intelligence Unit has since concluded that Zimbabwe's currency alongside Sudan's will be among the weakest for the year 2023.

Going further with details, Zimbabwe was mentioned again amongst the most owing nations together with Zambia and Mozambique. "Zimbabwe and Mozambique have enormous amounts of debt(relative to GDP) and their governments will grapple with debt-servicing burdens that eat up a substantial share of their revenue in 2023".

Source - Byo24News