Weak currency key to economic growth: Mthuli

FINANCE, Economic Development and Investment Promotion minister Mthuli Ncube says Zimbabwe had benefited from having a weaker domestic currency, adding that the economy had grown at an average rate of 6,8% in the last three years.

Ncube’s remarks come at a time government’s newly introduced currency, the Zimbabwe Gold (ZiG), the country’s sixth attempt to introduce a stable currency in 15 years, has been depreciating  against the United States dollar since its debut in April.

Speaking during a signing ceremony of four financing agreements between Zimbabwe and the European Union (EU) in Harare yesterday, Ncube blamed climate change for stagnating economic growth for this year and not the ZiG.

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