Ministry of Finance wrote LET’S AVOID PAINTING A NEGATIVE PICTURE OF ZAMBIA’S ECONOMY Dear Citizens and Friends, please let us be objective & truthful in discussing the Zambian Kwacha. Our currency is not the worst performing in the world as some of you are being forced to believe. Its recent performance is definitely not the worst this country or the world has ever seen. The effects of its turbulence over the last few weeks are understandable avoid falling into the trap of believing that anything Zambian, including the Kwacha is the worst. Industrious locals, foreign investors & tourists keep finding opportunities in Zambia because the country is an attractive destination. Most Zambians & other citizens are building houses & acquiring property because the environment is enabling. Sometimes, certain quarters of the local & international community will feed the public with sponsored toxic information in order to put themselves in pole position for the opportunities that exist in wealth creation and economic emancipation. This week, the German Government has disclosed interest from German investors to pump in USD 300 Million in the Zambian Agriculture Economy. This is a sign of investor confidence, especially that the ultimate venture will be the largest German investment anywhere in African agriculture. During the GRZ/IMF Media Briefing, the Secretary to the Treasury indicated that our much worried about deficit closed at 5.2% at the end of 2013 while credit to the private sector rose by 4.9% to close at 19.1% at the end of the first quarter of 2014. End 2014 GDP is estimated at 6.5% and will average at 8% by 2017. In addition, the Bank of Zambia, during the media briefing, disclosed that our international reserves have risen from USD 2.7 Billion to USD 3.5 Billion [3.8 Months of import cover]. PLEASE BE CAREFUL NOT TO FALL INTO THE TRAP OF FEELING DESPARATE ABOUT THE ECONOMY & DOING BUSINESS IN ZAMBIA
Posted on: Sat, 07 Jun 2014 10:07:53 +0000
Trending Topics
Recently Viewed Topics
© 2015