News / National
World Bank urges Zimbabwe to deploy funds properly
17 Apr 2013 at 05:30hrs | Views
Zimbabwe's economic growth will only be sustainable if the country's revenue proceeds from mineral resources are channelled towards poverty reduction, a senior World Bank official has said.
The country's gross domestic product growth between 2009 and 2011 averaged an impressive 7.3%, including 9.3% in 2011, making it one of the world's fastest-growing economies.
Speaking in a video conference discussion on Monday, outgoing World Bank Africa region chief economist Shanta Devarajan said last year about a quarter of African countries grew at 7%.
He said given the considerable amounts of new mineral revenues coming on stream across the region, resource-rich African countries would consciously need to invest these new earnings in better health, education, jobs and less poverty for the people in order to maximise national development prospects.
The country's gross domestic product growth between 2009 and 2011 averaged an impressive 7.3%, including 9.3% in 2011, making it one of the world's fastest-growing economies.
Speaking in a video conference discussion on Monday, outgoing World Bank Africa region chief economist Shanta Devarajan said last year about a quarter of African countries grew at 7%.
He said given the considerable amounts of new mineral revenues coming on stream across the region, resource-rich African countries would consciously need to invest these new earnings in better health, education, jobs and less poverty for the people in order to maximise national development prospects.
Source - newsday
