Friday, March 29, 2024

Zambian GDP growth to exceed 7%-Mutati

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Zambia has raised its 2007 economic growth forecast to seven percent or more from an initial six percent projection due to new investments in mining, agriculture, tourism and other sectors, a minister said on Tuesday.

Commerce and Trade Minister Felix Mutati said in an interview Zambia had in the nine months to September recorded about $1 billion in fresh foreign direct investment (FDI) into projects in the country’s copper and cobalt mines, agriculture, tourism and manufacturing sectors.

Mutati said other projects that would push gross domestic product to 7.0 percent or more were the construction of four new big hotels in Lusaka and the tourist resort city of Livingstone and a major housing project partly financed by the U.S government in the capital city.

“The level of investment has been tremendous and more than what we thought it would be. In this regard, we are going to hit 7.0 percent or even more in GDP (gross domestic product) growth this year,” Mutati told Reuters.

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17 COMMENTS

  1. Its always to nice to hear these economic growth prjections and achievements, but when only a hadfull of citizens, mstly the already haves, bennefit while the majority continue wallowing in extreme poverty, these seemingly economic achivements (in figures) have no meaning.

  2. These guys(ministers) think we are as stupid as they are.Their calculations are based on illusions.To start with we dont even know our Zambian population as at now.

  3. The only organisation/NGO which can provide reflective figure GDP growth rate with no biasness and exergeration is JCCP as at now. Them Guys have all the Data on their finger tips except may be for the national population which we just keep speculating. This figure will never paint a true picture of GDP growth rate untill the CSO put its house in order. Currently there are lot of factors missing in the whole equation. Therefore, this is just another political figure.

  4. Mwanawasa has just announced the formation of the Mulungushi University (formerly PCC college near Kabwe) in partnership with KCM. He also said the Copperbelt University would be reopened immediately. I hope they find a lasting solution to strikes and closures before opening up new universities.

  5. The impact on economical growth is only felt in Lusaka and that’s why the entire abena Ndola have shifted to Lusaka. Honestly, the 7% GDP growth sounds good but there must be some correlations with 70% poverty datum line that has been there since 2001. Again I don’t see any reason why fi MMD should be proud of when our resources are being controlled by “bamwisa” nama chuchu-chang. Thus, the 7% GDP growth rate to have an impact on a common man, the govt must start empowering the local pipo as it

  6. #5 continues

    Thus, the 7% GDP growth rate to have an impact on a common man, the govt must start empowering the local pipo as it going on in SA where the govt has been empowering the once oppressed race thru BEE project.

  7. Kaloba Tabakaleke.

    Zambia gets $13.8m loan
    By Times Reporter

    THE International Fund for Agricultural Development (IFAD) has given Zambia a concessional loan of about US$ 13.8 million to increase the use of sustainable financial services in rural areas.
    The loan agreement which is under the rural finance programme signed between Zambia and the IFAD in September 2005 was officially launched in Lusaka yesterday following the release of the funding.
    At the launch of the rural finance prog

  8. The way I see it, that 7% does not necessarily depict a true picture. I agree with what most of you are saying in that the common Zambian is still desperately poor. However, I think we should not forget to appreciate the tremendous work the current government has done since taking over (although a comparison to the Chiluba era is nothing to go by). As far as these Foreign Investors go, they need to do more to channel their investments to the people of Zambia or we will continue to be 3rd world.

  9. What did LPM called a press conference for? I thought the man had some real issues to discuss that Zambia is facing but to attack and condemn the his critics. He LPM should learn from his critics and use those them posively. I was expecting a cabinet reshuffle to pin down in corrupt ministers and other senior govt officails.

  10. Fact# 11, Think before you ask. I was just wondering that LPM should have told us the real issues that Zambia is facing rather than to use the platform warn his critics. Zambia should enjoy freedom of speech and assembly.

  11. Chuchu’s press conference is always threats to those opposing his views. Chuchu boy let me tell, when the Bishop laughed to your threats is becoz he finds it very childish of you, instead of embracing your pipo and giving them a good and encouraging msg, after being out from home for a long time, you threated them with treason, shame on you Chuchu boy. I warn you, dont u dare talk evil or touch the man God or else you will be condemning yourself and ur generation to come.

  12. Power corrupts and absolute power corrupts absolutely. Dr Chuchu seems to be engulfed in this speciality and forgetting that he needs deliverance from the clergy he’s now intimidating.

    #11 Fact
    Am surprised that we still have such pipo like Fact in Zed who stands on the hill and start shouting “Dr Chuchu weee eaa !” and all his fellow MMD cadres will answer in unison “sosa sosa, CHINA ilekufwa”. Iwe Fact, who told you that Presidential press conferences are meant for threats and intimidati

  13. #14 continues

    Iwe Fact, who told you that Presidential press conferences are meant for threats and intimidations? Awee mwe, enough is enough letting MY country being run by amateurs who have no direction in life apart from majoring in grovelling in dust.

  14. I we Joze, Today u r saying Bamwisa, tomorrow u will be suggregating the other tribes or colours.. I hate such type pf rhetorics based on Kapatulula. Foreigners alike are part of our growth.. Zambia need foreigners just like other Zambians have found growth in other countries.. The idea is how can we attract best qualified foreigners who can fill the gaps left by Zambians. Our fialures can not alway be attributed to Bamwisa as Joze puts it. y

  15. Why are Zambians becoming secondary citizens to foreigners in their own country? Chinese behaviour is an unacceptable. Chuck them out.

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