Zimbabwe’s statistics agency has rebased the country’s key economic data expanding the economy by over 40 percent.
The Finance Minister Mthuli Ncube on Friday defended the move saying the economy had been bigger than the initial size.
Ncube told reporters in Harare that after adjusting figures the annual gross domestic product (GDP) of Zimbabwe was $25.8 billion.
That’s increasing from the previous figure of around $18 billion.
“Our economy is bigger than we think and the new calculations took into account the large informal sector for the first time,” Ncube said.
Zimbabwe’s economy has been struggling for decades now since the era of former President Robert Mugabe.
President Emmerson Mnangagwa has promised to work at restoring the broken economy as it appeals for foreign investment.
Source: Africafeeds.com
