.YAMBA

By CHARITY MOONGA –

SECRETARY to the treasury Fredson Yamba has said Mr Sata’s vision was anchored on inclusive growth for all through sustained high rates of economic growth, job creation and poverty alleviation.
Under Mr Sata’s leadership and guidance, the economy grew by more than six per cent per annum, well above the Sub- Saharan Africa average, while inflation had been contained within single-digits.
The external sector, especially non-traditional exports grew significantly with agriculture exports exceeding US$1 billion dollars, the highest in the history of the country. This reflects his will for the country to diversify the economy.
Zambia also witnessed an unprecedented focus on capital investment in social and economic infrastructure particularly in health, education, roads, rails and energy sectors.
Government did put in place an Industrialisation and Job Creation Strategy which had seen an increase in additional jobs and incomes, important in lowering poverty.
Foreign Direct Investment had continued to grow reaching the peak of US$1.73 billion in 2012, the highest in 12 years.
The investments had been broad-based-covering Government’s priority economic sectors, namely agriculture, tourism, labour and export-led manufacturing, mining and construction.
This is a reflection of the improved investment environment in the country, made possible by policy consistency and workable pro-private sector strategies.
He re-assured the nation, investors and cooperating partners, that strong macro-economic policies underpinned by the need for high sustainable growth, creating jobs and reducing poverty, would remain the Government’s main focus.
As a nation, our economic policies will continue to be sound irrespective of who takes office.
He appealed to all economic players, to remain calm as they executed their business activities and to desist from speculative tendencies that may cause instability in the economy.
Government had put in place stringent measures to ensure smooth operations and safety of public resources and assets.
“Let me also assure you that the Government will honour all domestic and international obligations, contracts, agreements and relationships. We will also remain amenable to external reviews from rating agencies and surveillance from international organisations such as the International Monetary Fund, and further fostering our relations with other multilateral institutions and cooperating partners.
Dialogue on important national issues that border on the economy will be encouraged and accommodated,” he said.
There was no basis for panic by any economic players both foreign and domestic as the situation will be handled with greater firmness, maturity and unity.