Thursday, March 28, 2024

National Economic Advisory Council predicts a 4% growth of Zambia’s economy

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Cigarette manufacturing factory company which globbed over $ 25 million in construction at the Multi Facility Economic Zone in Lusaka.
Cigarette manufacturing factory company which globbed over $ 25
million in construction at the Multi Facility Economic Zone in Lusaka.

The National Economic Advisory Council (NEAC) has predicted that Zambia’s economy will grow by 4 percent before the end of this year.

NEAC Executive Secretary Webby Wake said that the growth will be supported by construction that has continued to provide impetus interns of the economic activity, mining output, and manufacturing sector among other sectors as the main reasons that will propel Zambia’s growth this year.

Speaking to q-news, Mr. Wake said that his organisation is expecting a better performance this year than it was last year.

Mr. Wake expects that Zambia will maintain the momentum that has been normally this year, said that it is subject to a number of external shocks that may affect the performance of other sectors.

Last Month Bloomberg said that Zambia’s economic growth was going to be among the fastest growing economies in Africa only second to Ethiopia. Bloomberg Editor in Chief, Mathew Winkler, disclosed that foreign direct investment from China and others countries helped the rapid and consistent economic growth of both Zambia and Ethiopia.

Mr Winkler said this at the 2018 Bloomberg Africa Business Innovators Summit in Livingstone. Giving an outlook of Africa’s economies, Mr. Winkler said that there was remarkable growth in Zambia’s mining other sectors including telecom and technology sectors.

18 COMMENTS

  1. Another reason to make sure we. It’s oredeibr Lungu in the next General elections unless ofcourse you are a retard you will thing he is not the right man.

    He is the best man to hold the torch for now.

    I have a PhD.

    Thanks

    BB2014,2016

  2. The potential of growth is actually more than that with more efficiency, transparency and fiscal discipine by government. And why should a cigarette manufacturing factory company be taken as an example for economic growth? What message is are they trying to send?

  3. That’s good if not fake news, then please cut on corruption and over borrowing so that the broth can have an impact on the man on the ground, if true good job

  4. Any economic growth less than 6% is unsatisfactory coz it won’t do serious reduction to Zambia’s already huge poverty levels.

  5. Miniscule considering RB had the economy ticking along at 6 to 7 % growth having spent a fraction of what PF and lungu have spent….

    4 % is poor with a debt of $17 billion, even before principle repayments are called and unemployment at 40%……WTF

  6. I’ll opt for RB’s wonderful 6.4% annual growth if given a choice between his alleged small corruption and today’s PF poverty + high debt economy.A lesser evil is always better.

  7. I equally second on RB’s perfomance from other bloggers.NEAC comes out indeed as an advisory body as opposed to ZIPAR which tend reactive and acts on secondary data indtead of being a think tank.

  8. Is a poor villager able to feel that the economy has grown by 4%? The economy only grows at state house, in the ministers’ offices and other well connected individuals

  9. Ati 4% growth !? Again, just meaningless statistics as long as there is no food on the table. I know bewitched PF supporters will like this. Only people who are spell-cast will believe in this information which is always given by the government in chipantepante fashion. Tomorrow, it will be Sunday Chanda saying the economy is expected to grow at 6% even when the ACTUAL TREND is pointing in the opposite direction ( reducing towards ZERO growth).

  10. If Zambians don’t get to work , I have said and keep saying no party will end poverty in Zambia. The solution to end poverty lies in Zambians becoming financially disciplined at personal level. Zambians consume a lot of alcohol which is a major factor for poor work force, broken homes, spreading of HIV etc. Beer selling is the most thriving business in Zambia.The Army have joined in the business too. Pass through their new premises off new kasama road see how the place is jam packed in the evenings and with a section for children . Spending money on entertainment then tomorrow you want free education and cheap meali meal. who will pay for it? Zambians are imitating the life styles of nations who have already worked and are enjoying their labour.

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