THE Ministry of Finance and National Planning has said Government is committed to improving its economic policies to create a conducive environment that will enable the country to maintain its low middle-income status.
Ministry of Finance and National Planning permanent secretary Anthony Undi said Government is working hard to put in place policies which will increase income generation in the country.
Mr Undi said in Lusaka early this week during the 26th annual general meeting cocktail party for Indo-Zambia Bank (IZB) that the banking sector plays an important role in growing the economy of the country.
“Banks play an enhanced role in economic growth, and the IZB has been complementing Government efforts by ensuring the unbanked groups have access to financial services,” Mr Undi said.
He said IZB has contributed to the increase in foreign direct investment coming into the country because of its strategic linkages with investors outside the country.
Mr Undi expressed happiness that in complementing Government efforts the IZB has focused credit deployment to growth areas of the economy such as manufacturing, agriculture, tourism and infrastructure development.
He said the bank has registered an impressive growth of 23 percent amounting to K422 billion.
And speaking at the same function, IZB board chairperson Orlean Moyo commended Government for achieving the low middle-income status.
Mrs Moyo said the re-classification is a reflection that the country has been progressing because of the sound economic policies of the government.
“This status and the prevailing conducive economic atmosphere will translate into more economic benefits for the nation,” Mrs Moyo said.
[Zambia Daily Mail]
Now that is what am talking about!!Thanks to HE.RB and the mighty MMD for not hot air like PF but by putting their mouth where there mouth is.Only a person living in fantasy land will dispute any progress made by the president elect HE.RB especially PF bloggers.
“The middle-income countries now account for most of the world’s population living in absolute poverty and they need aid allocation models which will take account of poor people and deprivation beyond income”………. world bank
This is fantasy. This short sighted MMD theiving GRZ is wasting our time. If anything -ve happens to the price of copper we are back to squre one. For 20 yrs yet we cant even print ballot papers. Manufacturing is zero and you are harpping on about middle income. All this is nothing but a bubble. 90% of zambias mineral wealth is externalised after being debited by MMD. We need a leader that thinks Zambias foundation first.