Zambia

In: Business and Management

Submitted By leroy05
Words 2137
Pages 9
The article in consideration by Chris Mfula talks about differing forecasts of Zambia’s GDP growth in 2010, citing reasons why the GDP of Zambia forecasts a growth of 6.6% in 2010.This forecast is based on improving outputs of the mining, agriculture and tourism sectors. The article highlights that the previous forecast of 5.8% in June was as a result of sluggish global recovery. Furthermore previous forecasts of 7% were dismissed as a result of overall budget deficits resulting from increased spending on infrastructure and the social sector. Lastly the Finance minister reiterates that inflation rate forecasts still remain at 8% for 2010 and also explains that the strong kwacha (currency of Zambia) will help contain inflation. Zambia is a land locked English speaking Eastern African country which has Lusaka as its capital and shares borders with Malawi, D.R Congo Mozambique, Zimbabwe and Angola just to name a few. Zambia has a population of approximately 12.9 million spending the kwacha and enjoys a GDP per capita of $1144.3. Most citizens engage in agriculture for a livelihood. These agricultural products include maize, sunflower seeds; coffee, livestock and sorghum just to mention a few. Nevertheless, agriculture does not form a major percentage of Zambia’s exports. Zambia’s main exports include copper, tobacco, maize and cotton. Zambia also imports copper ores, petroleum oils, machinery and vehicles to enhance production and transport of goods and services. Zambia’s leading trade partners include China, Switzerland, South Africa and Democratic Republic of Congo. Some prominent and revenue generating tourist sites in Zambia are the Victoria Falls, Lake Mweru and Chimp Sanctuary. The GDP of Zambia has experienced steady growth over the last decade triggering forecasts from statistical experts over the globe. Over the years the GDP forecasts…...

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