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

The current account balance for 2022 stood at a surplus of 305 million dollars , driven by robust export performance and remittances, with annual inflation expected to maintain a downward trend underpinned by tight monetary conditions.

Further liberalization of the forex market has helped anchor expectations, the statement said, adding the banking sector and national payments system remain safe and sound.

It projected a slowdown in domestic GDP growth from 4.0 percent in 2022 to 3.8 percent in 2023.

Read more: Zimbabwe’s forex receipts reach record 11.6 bln USD in 2022 [Xinhua News Agency]

Source: Xinhua

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