The Ministry of Finance yesterday submitted to Parliament a note on next year’s budget along with outlines of the budgets of 2013 and 2014. The Ministry expects the economy to grow 11.8% this year, with the mining sector growing 10.6% and other sectors 12%.
The economy showed substantial recovery in 2010, with money supply increasing 62% and household consumption also rising. Inflation stood at 13% but the Ministry hopes to keep inflation between 8 and 9 between 2012 and 2014.