mining float.jpgGovernment says attaining a 9,3% growth this year is possible despite challenges encountered in raising funds for local industry and failure by the agricultural sector to perform as anticipated.

Growth prospects for this year are coming under scrutiny from the business community following failure by the government to attract the much needed direct foreign investment and failure by the tobacco industry to reach the 170 million kilogrammes target.

In an interview, the Permanent Secretary in the Ministry of Economic Planning and Investment Promotion, Dr Desire Mutize Sibanda said the attainment of the projected 9,3% is highly possible considering the investment inflows indicating that over US$1 billion worth of projects have been approved this year.

Mining and agricultural sectors have been touted as the major drivers of economic growth though agriculture has failed to perform as anticipated owing to the failure by the Minister of Finance to fund the sector adequately.

This lack of funding has resulted in tobacco raking US$359 million from 131 million kilogrammes.

The mining sector had been projected to grow by 47% from last year’s figures of 44% while the agricultural sector recorded 33% last year.

It had been anticipated that the general performance of the economy will grow from last year’s 8,1% to 9,3%.