The 2011 Fiscal budget analysis incorporates; some background perspectives to assist locate the Zimbabwe economic situation within the context of global and regional economic developments.

The global economy is emerging from the global financial crisis of 2007/08. The global economy has changed considerably over the past 3 decades in response to economic reforms implemented virtually across the globe - in East Asia, Latin America, Sub Saharan Africa, Eastern Europe and the Commonwealth of Independent States, following the fall of Communism.

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The stable political and macroeconomic environment that has persisted since 2009 as a result of the signing of the GPA and the adoption of the use of multiple currencies (mostly United States Dollar and South African Rand) has created a conducive environment for business planning and project execution. Zimbabwe's mining sector has thus embarked on a growth path as evidenced by positive growth rates across most minerals (with the exception of granite).

The mining sector continues to power recovery with a projected growth of 47% in 2010, while agriculture, buoyed by increased tobacco output is forecast to record a growth of 34% in 2010. The mining sector contribution to the economy continues to grow and is expected to do so in the short- to-medium term.

The mining sector accounts for 65% of exports, up from 50% in 2009 and accounts for a third of imports. With exports projected at US$1.2 billion in 2010 and a nominal GDP estimate of US$6 billion, it is implied that mining accounts for about 20% of nominal GDP.

The following contacts are important for mining investors in Zimbabwe: