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Zim economy worst in Africa
03/04/2007 15:03 - (SA)
Addis Ababa - Zimbabwe, wracked by years of political and economic woes, was Africa's worst economic performer in 2006, while Mauritania was best, thanks to oil exports, according to a UN study released on Tuesday.
The troubled southern Africa nation of Zimbabwe registered a negative 4.4% growth rate, ranking it the lowest performing economy, the UN's Economic Commission for Africa said in a report published in Addis Ababa.
"Economic performance in Zimbabwe remained negative ... owing mainly to political difficulties exacerbated by recurrent droughts," the report said.
Zimbabwe's inflation rate is now the highest in the world at 1 730% and forecast by the International Monetary Fund to climb to 4 000% by year end. Four out of five people are out of work and live in abject poverty.
On the other hand, high oil export prices helped Mauritania reach the study's top position with 19.4% growth.
Angola placed second, with 17.6%, while mineral exports helped Mozambique reach third place at 7.9%.
At the bottom of the ladder apart from Zimbabwe, the Comoros, Ivory Coast, the Seychelles and Swaziland exhibited the most dismal economic growth rates in Africa.
The report projected a 5.8% growth rate on the continent this year, a slight improvement from last year's 5.6% due to growing global demand for commodities such as oil, minerals and agricultural products.
But the spread of HIV/Aids, lack of diversity in exports and unpredictable weather, as well as inefficient public infrastructures and unreliable energy supplies could hinder the projected growth, it added.
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Zimbabwe Special Report
