GOVERNMENT UPBEAT OF 6.1 ECONOMIC GROWTH FOR 2014

Government is optimistic of achieving 6% economic growth by December -despite the recent Uranium mining suspension at Kayerekera.
Minister of finance Maxwell Mkwezalamba said last week, that the Monetary Policy Committee anticipates a 6.1% economic growth this year after it underwent hardships during the past three years.
“We anticipate the economy to grow by 6.1% in 2014 due to positive Agricultural prospects and positive signs shown in the economy so far.
“We will try our best to go a long way in implementing all reforms and objectives to realize these projections.” Mkwezalamba said.
This has been described as unrealistic though by independent economists who do not see any basis for the economy to achieve such a five star performance with the budgetary support already frozen by donors ahead of the tight elections midyear.
However, the ministry of finance has remained upbeat of achieving the dream.
Speaking in an interview, spokesperson in the ministry, Nations Msowoya was positive of meeting the target despite the turmoil in at Kayerekera which contributes 10% to country’s productivity (Gross Domestic Product).
“We doubt the doubts of some economists on our estimates, we believe in ourselves because we have our strong team of experts who are currently in the field conducting assessments and we are positive this will be.
“We will rely on agriculture, manufacturing and Tourism cause we know that exports at Kayerekera have been affected.” Msowoya said.
During the past year two years, the economic growth projections were being assumed wrongly –as government kept correcting the growth as time was lapsing.
It was initially predicted at over 5% before it was realized that it was insignificant at below 1.5%