Zimbabwe’s industrial output grew by 110 percent in the first half of 2009, thanks to an improvement in economic conditions since former political foes agreed to work together at the beginning of the year, a survey showed Wednesday.
The survey, conducted by the Confederation of Zimbabwe Industries (CZI), also recorded that industrial capacity had picked up significantly since the formation of a coalition government in February, rising from below 10 percent to the current 32.3 percent.
Zimbabwe’s new regime launched a short-term economic recovery program in March under which it did away with some of the ruinous policies pursued by the government since 2000.
These included the scrapping of price controls and the embracing of free market forces.
Other measures included the withdrawal of the free-falling Zimbabwe dollar and the introduction of multiple currencies as the medium of exchange.
The CZI said the unity government had restored confidence and announced that about $1.5 billion had been invested in the manufacturing sector for plant rehabilitation and expansion so far.
Source African Press Agency
