Skip to content
Subscriber Only

Zimbabwe Ex-Finance Boss Sees Potential $100 Billion Economy

  • Biti says country could achieve annual growth rate of 8%
  • Nation is due to hold first post-Mugabe elections by Aug. 22
Tendai Biti 

Tendai Biti 

Photographer: Jekesai Njikizana/AFP/Getty Images

Updated on

Zimbabwe’s opposition could expand the size of the economy more than fivefold to $100 billion within eight years if it wins this year’s elections, a former finance minister said.

The first elected government since Robert Mugabe stepped down in late 2017 under pressure from the military will inherit an economy shattered by almost two decades of upheaval including a failed land reform program, hyper-inflation, Western sanctions and mass emigration. Zimbabwe owes at least $11 billion to lenders such as the African Development Bank. The World Bank estimates current gross domestic product at about $16 billion.