Govt revises GDP forecast to 7.9 percent :: Mmegi Online

The government has revised upwards its GDP forecasts for 2010 from 5 percent to 7.9 percent largely due to recovery in the mining sector that traditionally contributes 33 percent of the GDP.

According to the 2011/12 Budget Strategy Paper (BSP) that will form the basis of preparations for the next national budget to be announced next February, the government has revised GDP, revenue and expenditure forecasts for the next three years, laying the foundation to attain the target of a balanced budget by the year 2012/13.

Announcing the 2010/11 national budget early this year, the Minister of Finance and Development Planning (MFDP), Kenneth Matambo, put this year's growth forecast at 5 percent. The government has now adjusted the figure upwards to 7.9 percent due to improved revenues forecasts and trimmed expenditures.

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Govt revises GDP forecast to 7.9 percent

The government has revised upwards its GDP forecasts for 2010 from 5 percent to 7.9 percent largely due to recovery in the mining sector that traditionally contributes 33 percent of the GDP.

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