A TRAIL of Zambia’s economic growth is visible for everyone to see, especially as the Patriotic Front Government continues to foster a stable macro-economic environment.
With commercial banks’ lending rates on the decline, averaging 16.3 per cent in 2013 compared to an average of 19.1 per cent in 2012, it is evident that progression and better things are yet to come.
Indication of the country’s Gross Domestic Product (GDP) growing by seven per cent in 2013 and inflation on single digit ending the year at 7.1 per cent are sure signs of focused economic policies.
We therefore, agree with President Michael Sata’s view that the Zambian economy will continue to grow despite pressures on the external value of the Kwacha.
If the exchange rate can moderately depreciate by 6.3 per cent compared to 5.7 per cent in 2012, a performance better than what was recorded in most sub-Saharan African countries, what then could be a better pointer than that?
Supporting President Sata’s observation is the International Monetary Fund (IMF) that believes that Zambia’s economic growth would remain strong.
IMF’s position is premised on the fact that, at seven to eight per cent GDP and inflation declining to five per cent over the medium term, Zambia’s economic performance in the sub region is exemplary.
It can be said that the deliberate infrastructure development the Government has embarked on is one way of growing the economy.
The development is also meant to trigger more job opportunities and improve the people’s general welfare.
We can cite the unprecedented infrastructure development being undertaken such as the Link Zambia 8000 project, construction of 650 health posts, the upgrading of airports and aerodromes and construction of universities as projects spurring economic growth and stability.
Judging him from his past, President Sata always has, and continues to be, of service to Zambia and one who walks his talk.