Zimbabwe’s forex receipts reach record $11.6bln in 2022
Foreign News

Zimbabwe’s forex receipts reach record $11.6bln in 2022

Zimbabwe’s foreign currency inflows soared to a record $11.6 billion in 2022, supporting its robust economic activity, the country’s central bank announced in its 2023 monetary policy statement on Thursday.

The current account balance for 2022 stood at a surplus of $305 million.

It was driven by robust export performance and remittances.

Annual inflation is expected to maintain a downward trend underpinned by tight monetary conditions.

Further liberalisation of the forex market has helped anchor expectations, the statement said.

It added that the banking sector and national payments system remain safe and sound.

It projected a slowdown in domestic GDP growth from 4.0 per cent in 2022 to 3.8 per cent in 2023. (Xinhua)




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