The Zimbabwean economy is set to recover in the second half of 2007 as stakeholders show unprecedented determination to rectify macro-economic fundamentals and the country's food imports decline, an official said on Friday.

David Govere, vice president of the Employers' Confederation of Zimbabwe, said although the first six months would be difficult, there were positive aspects that pointed towards the rapid recovery of the economy.

"We are heading towards the inevitable recovery of the economy in the second half of 2007. We are beginning to speak about the real issues on the National Economic Development Priority Program platform, the thawing of bad political relations is almost complete and the experimentation that we have been doing as a country is almost complete," he said at the convention of the confederation in Nyanga, a renowned resort in east Zimbabwe.

Govere said indications of recovery were being realized as evidenced by the reduced dependence on food imports and the reduced wheat shortfall compared to last year.

The economy, he predicted, would be fast growing by the year 2010 because of the unwavering determination by stakeholders, that had not been there before.

He however said that the first half of next year would be fraught with major challenges that include the shortage of basic commodities on the shelves due to an inadequate harvest of the previous farming season.

He described the last seven years of economic recession in the country as the "seven lean years". This, Govere said, had been caused by several factors which include reduction in agricultural production, inability to generate foreign currency, emergence of multiple rates and policy instability.

Source: Xinhua