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    Swaziland-Economy-Development

    Swaziland apex bank slashes 2018 growth forecast

    APA-Mbabane (Swaziland)

    The Central Bank of Swaziland (CBS) on Wednesday forecast economic growth of 1.3 percent for 2018, significantly lower than an initial projection of 2.8 percent.

    “This downward update for the 2018 outlook is mainly due to slower anticipated growth for the secondary and tertiary sector,” the bank said in a statement.

    CBS noted that the country’s re-admission of the country into the United States government’s Africa Growth Opportunities Act programme “is expected to bring a positive turnout in economic activity especially towards the manufacturing sector.”

    Activity in the construction sector is however expected to take a hit due to worsening government fiscal challenges, which will hinder continued implementation of state-funded capital projects.

    The bank revealed that sugarcane production recorded a growth of seven percent in 2017 and is expected to grow by nine percent in 2018.

    BM/jn/APA

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