Business / Economy
Zimbabwe inflation to slow down to 3.9%, says Biti
25 Jul 2013 at 14:30hrs | Views
Zimbabwe's year on year inflation is expected to slow down to 3.9 percent from projected 5 percent, due to the weakening rand. Finance Minister Tendai Biti said this whilst presenting the Mid-Term fiscal policy.
Biti also said the Gross Domestic Product has been revised to 3.5 percent from the proposed 5 percent due to uncertainty and under-performance of the agriculture and mining sectors.
He also said funding for the UNWTO is still a challenge.
Biti says Zimbabwe is ready for elections after treasury disbursed US$96 million as at July 25. An outstanding amount of US$36 is still required to meet allowances for election officials. Mr Biti said the treasury has no capacity for a presidential election run-off.
Biti also said the Gross Domestic Product has been revised to 3.5 percent from the proposed 5 percent due to uncertainty and under-performance of the agriculture and mining sectors.
He also said funding for the UNWTO is still a challenge.
Biti says Zimbabwe is ready for elections after treasury disbursed US$96 million as at July 25. An outstanding amount of US$36 is still required to meet allowances for election officials. Mr Biti said the treasury has no capacity for a presidential election run-off.
Source - newsday
