Business / Economy
IMF slashes Zimbabwe's economic growth target
10 Mar 2016 at 06:58hrs | Views
The International Monetary Fund has slashed Zimbabwe's economic growth forecast to 1.4 percent this year against Finance minister Patrick Chinamasa's 2,7 percent growth target.
An IMF official leading a delegation from the Bretton Woods Institution, Domenico Fanizza said the new figure took into account an impending drought and unstable metal pieces.
Finance Minister Chinamasa yesterday agreed that the country's growth targets will be lower than anticipated due to harsh weather conditions.
The latest development comes after the World Bank recently revised Zimbabwe's growth projection figure to 1,5 percent due to the country's worsening economic conditions.
Source - Daily News
