ZAMBIA’S GROWTH STRATEGY ON COURSE - REPORT

ZAMBIA has achieved relative macro-economic stability and growth which has remained above the average for Sub- Saharan Africa, a report has revealed.

The report dubbed ‘Foreign Private Investment and Investor perceptions in Zambia 2018-highlights’ the survey findings on foreign assets and liabilities as well as investor perceptions.

According to the report, investment promotion would continue to be an important policy strategy consistent with the overall macro-economic targets aimed at attaining sustainable economic growth for Zambia.

“It is therefore important to note the positive achievements recorded in the previous medium term plan such as stabilisation in the exchange rate and reducing and sustaining inflation to single digits,” the report reads.

Central Statistical Office, Bank of Zambia and the Zambia Development Agency compiled the report under the theme, “Enhancing Investment For Industrialization And Export Promotion Towards Inclusive Growth.”

Government’s objective, the report says, was to strengthen macro-economic resilience by narrowing the fiscal deficit through scaling back borrowing.

The report says Government would continue to prioritise agriculture, mining, manufacturing and tourism as key strategic sectors for the creation of decent employment opportunities in order to reduce poverty.

Energy and construction are also important sectors of the economy.

The report observes that the main challenge was expenditure pressure with the rising debt service, growing domestic arrears which have led to an overall expansion in fiscal deficit.