Central Bank of Lesotho - Annual Report 2005

According to the Central Bank of Lesotho's Annual Report 2005, the Lesotho economy was projected to grow at a rate of 1.2 per cent in 2005 compared with 3.1 per cent realised in the previous year.

"This growth rate is far less than 4.5 per cent projected for Africa in 2005. It is insufficient to bring about a reduction in unemployment and poverty levels in the economy."

"The downward trend largely reflected the poor performance of the secondary sector, as manufacturing output contracted. The

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