Madagascar Economic Growth to Miss Target in 2011, Minister Says
Madagascar’s economy expanded an estimated 0.5 percent to 1 percent this year, less than the 2.8 percent previously forecast, Finance Minister Hery Rajaonarimampianina said.
Growth was affected by an increase in food prices and higher international fuel costs, while the suspension of aid curbed infrastructure projects, the minister told reporters yesterday in the capital, Antananarivo.
Donors stopped giving the Indian Ocean island nation aid after Andry Rajoelina ousted Marc Ravalomanana as president with the help of the military in 2009.
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