News / National
Biti to present gloomy Zim economic review
25 Jun 2012 at 04:45hrs | Views
Finance Minister Tendai Biti is set to present what most perceive as a gloomy first half economic review this week.
Sources close to the Ministry say Biti will present a gloomy economic first half economic review report this week and review downwards the 2012 economic growth projections given the underperformance of industry and the budgetary pressures.
In his US$4 billion 2012 National Budget, Minister Biti set a 9,4% economic growth target citing the anticipated growth of the mining and agriculture sectors.
However, both sectors have failed to perform according to expectations.
Liquidity constraints continue to hog the local market despite improved revenue collections and relatively low inflation figures.
The country, whose debt is hovering above US$8 billion, has remained a net importer, a situation which has had a net negative effect of the GDP.
Sources close to the Ministry say Biti will present a gloomy economic first half economic review report this week and review downwards the 2012 economic growth projections given the underperformance of industry and the budgetary pressures.
In his US$4 billion 2012 National Budget, Minister Biti set a 9,4% economic growth target citing the anticipated growth of the mining and agriculture sectors.
However, both sectors have failed to perform according to expectations.
Liquidity constraints continue to hog the local market despite improved revenue collections and relatively low inflation figures.
The country, whose debt is hovering above US$8 billion, has remained a net importer, a situation which has had a net negative effect of the GDP.
Source - zbc
