1 April 2011
editorial
ZAMBIA’S macro-economic indicators point to the fact that the economy will this year continue with an upward trend, of course bolstered by improved output in the mining and agriculture sectors.
The other positive factors are a rebound in tourist inflows and increased activity in the construction industry buoyed by a growing private sector.
It is important, therefore, to sustain positive growth in key productive sectors and also accelerate the diversification process from mining, which has been the mainstay of the economy since independence.
The hosting of the seventh Zambia International Business Advisory Council (ZIBAC) conference has thus re-asserted the Government’s resolve to create and maintain a favourable environment for increased investment and private sector growth.
President Rupiah Banda himself is convinced that with the implementation of right reforms, the country will continue to record positive growth in all the key productive sectors of the economy.
However, more needs to be done for the country to reduce poverty through job and wealth creation among other interventions.
In identifying some of the challenges, the president has rightly pledged that the Government will improve coordination among public institutions to avoid contractions in the reform process.
Zambia certainly needs to reduce the cost of doing business even further and enhance productivity in this competitive global economy.
Significant strides have been made in the reform programme such that the country is now among the top 10 global reformers after improving overall ranking by 14 places from 90 to 76 in the world.
The country was recently assigned a B+ credit rating by two renowned international organisations – Standard and Poor’s and Fitch International.
Even with such an encouraging track record, the country still needs to prop up the manufacturing sector and other areas so that poverty can be reduced particularly in the rural area.
We therefore appeal to all stakeholders to combine efforts in creating a vibrant production base able to churn out products with value addition.
AllAfrica – All the Time
Read More:
Nation Optimist About Economic Growth