THE International Monetary Fund (IMF) projects economic growth for sub-Saharan Africa to accelerate in 2015 to 5,8% compared to 5% in 2013-14 due to a demand in infrastructure boom.
BUSINESS REPORTER
Addressing delegates at an IMF breakfast meeting held in the capital yesterday, IMF director of the African department Antoinette Sayeh said the growth for the region would remain favourable.
She said there would be strong growth in agriculture and infrastructure in the region. Sayeh said Ebola was expected to continue spreading and harming economies.
“Ebola continues to spread unabated. It is also causing extensive damage to the economies of Guinea, Liberia and Sierra Leone and tourism, mining and services were the main affected sectors.
“Epidemiologists estimate that it may take up to nine months to bring the outbreak under control. Elsewhere in sub-Saharan Africa, economic spillovers are projected to remain modest and contained to regional transportation hubs (Ghana, Kenya and Nigeria),” she said.
Sayeh said the region remained the second fastest region in the world.
She said sustaining high growth remained the key consideration for the majority of the economies.
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
“In particular, policies should continue to emphasise growth-enhancing measures, including by boosting fiscal revenue mobilisation, targeting public spending toward infrastructure investment and other development spending,” Sayeh said.
She said Zimbabwe was facing some economic challenges and a difficult business environment.
