Tuesday, July 13, 2010

Zambia cuts 2010 GDP forecast to 5.8 pct-Finmin

Zambia has lowered its economic growth forecast for 2010 to 5.8 percent from a previous 7 percent, Finance Minister Situmbeko Musokotwane said in a letter to the International Monetary Fund on Monday.

Musokotwane also said the government and Bank of Zambia were aiming for inflation of 8 percent by the end of the year. Annual inflation stood at 7.8 percent in June