The economy's growth has been downgraded from the initial growth of at least 3 per cent to a negative growth of around minus 4.2 per cent.
Zambia’s economic growth in 2020 has been revised downwards due to the negative effects of the COVID-19, its finance ministry said on Wednesday.
The economy growth has been downgraded from the initial growth of at least 3 per cent to a negative growth of around minus 4.2 per cent. “My ministry has continued to review the performance and projected growth of the economy amid the COVID-19 pandemic.“Analysis conducted indicates that the COVID-19 pandemic will have an adverse impact on the economy,” he said.
The agriculture sector was projected to record strong growth due to good favourable rain patterns, which have seen a 69 per cent production of maize, the country’s staple crop.
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