A local economist has urged Zambians to harness and help sustain the status of a middle income country reclassification so that the grassroots can feel the benefit of the status.
Economist Edmond Soko said in a statement to ZANIS in Kitwe that it is justifiable for Zambia to move to a higher status considering the current economic successes that it has recorded.
Mr. Soko said the infrastructure development being seen around the country and the increased capital inflows in the mining industry, construction,and agricultural sectors among others are indicators of economic growth.
He stated that several economic successes that Zambia has been recording in the recent past, has earnestly convinced the World Bank and other international institutions to re-rate the country to the category of middle income nation 19 years before the planned period of 2030.
He said the reclassification of Zambia as a middle income country has come unexpectedly but at the right time especially that everyone thought the developmental sentiments by government and economists were part of the election propaganda.
Mr. Soko said the fears by some sections of society that the country might lose out part of the donor aid after this rating are not justified because a country can not entirely depend on donor aid forever but gradually wean economically.
He said that is why it is important to harness this status and consistently sustain it for a long period of time so that the grassroots can feel the impact of the middle income status.
Zambia and Ghana are African nations that the World Bank has reclassified as middle income countries.
The two countries are ranked 27th and 28th respectively among 63 countries which the World Bank has reclassified as middle income countries.
ZANIS