October 5, 2018 / 9:29 AM / 13 days ago

Zimbabwe rebases data, boosting nominal size of economy by 40 percent

HARARE, Oct 5 (Reuters) - Zimbabwe’s statistics agency has rebased key data, in an unexpected move that Finance Minister Mthuli Ncube said on Friday had increased the nominal size of its economy by more than 40 percent.

Annual gross domestic product (GDP) was $25.8 billion after adjusting the figures, from around $18 billion previously, Ncube told reporters in Harare.

Zimbabwe’s troubled economy is still struggling to emerge from decades of mismanagement under long-time leader Robert Mugabe, who was ousted in a bloodless coup in November.

Reporting by Macdonald Dzirutwe; Writing by Joe Brock; editing by John Stonestreet

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