Business / Economy
Govt to slash economic growth projections by almost 4%
16 Jun 2012 at 09:35hrs | Views
Government is planning to revise the country's economic growth rate downwards from 9.4% to 5% amid failure by the agricultural sector to perform as anticipated while revenue collection has also declined.
Sources privy to economic data told the state controlled Zbc News that economic growth which has been pegged at 9.4% will be revised downwards to around 5% and this has been attributed to the failure by industry to attract fresh capital as well as wide spread droughts.
The performance of the economy in the first quarter has prompted the business community to predict that economic growth target of 9.4% was a pipe dream as most parts of the country have been affected by drought.
The performance of the economy in the first quarter has prompted the business community to predict that economic growth target of 9.4% was a pipe dream as most parts of the country have been affected by drought.
Source - Zbc
