Zimbabwe among the 10 fastest growing countries in Africa in 2021

  1. Zimbabwe

GDP growth in 2021 according to World Bank: 5.85%

Zimbabwe’s economic growth accelerated to an anticipated 5.9% in 2021 from a 6.2% fall in 2020 due to a bountiful harvest that expanded agriculture by 36.2% in 2021 as opposed to 4.2% growth in 2020. The per capita GDP also increased, jumping by 4.9% in 2021 after declining by 6.7% in 2020. However, in 2022, economic growth was held down by unstable prices and deteriorating agricultural circumstances. The real GDP growth rate is anticipated to decrease from 5.8% in 2021 to 3.4% in 2022.

  1. Senegal

GDP growth in 2021 according to World Bank: 6.06%

Senegal stands ninth on the list of 12 of the fastest growing economies in Africa. With 6.1% growth in 2021 compared to 1.3% in 2020, the economy started to recover, in part because of the Adjusted and Accelerated Priority Action Plan. The return of the extractive industry, building and commercial activities related to high demand, as well as transportation services, were the main drivers of this growth. The recovery is predicted to slow down in 2022 to 4.6% owing to the consequences of the Russia-Ukraine war. However, it is estimated to rebound in 2023 to 8.2% thanks to governmental and private investments as well as increased oil and gas extraction. Oil and food prices will rise, causing inflation to reach 3.2% in 2022 before dropping to 2.2% in 2023.

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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