Business / Economy
Zimbabwe to revise economic growth downwards
17 May 2012 at 12:21hrs | Views
HARARE - Zimbabwe's economic growth projections for this year may be revised downwards on lower revenue collection, while inflation forecasts could be higher than previously expected, Finance Minister Tendai Biti said on Thursday.
"The first quarter of the year has been an extremely difficult period. We have not been able to meet our revenue targets. The key cause is non-performance of diamonds," Biti told journalists during a quarterly economic update.
"It's foreseeable...that major projections will be revised downwards."
"The first quarter of the year has been an extremely difficult period. We have not been able to meet our revenue targets. The key cause is non-performance of diamonds," Biti told journalists during a quarterly economic update.
"It's foreseeable...that major projections will be revised downwards."
Source - Byo24News
