Zambia’s economic outlook positive
Written by Millennium on July 31, 2019
BUUMBA CHIMBULU writes
THE outlook for Zambia’s economy is positive due to her stable geo-political climate, says Trade Kings group general manager Lux Subramaniam.
Mr Subramaniam said presence of favourable factors such as abundance of natural resources and stable geo-political climate continued to mitigate the risks that came with Zambia’s mono-economy.
He said consistent better macroeconomic indicators, commitment to control fiscal deficits and natural resources were among the standouts indicating a certain level of optimism in the Zambian economy.
He said this in the 2019 ‘Investors Road Map for Zambia’ prepared by the Boston Research and Intelligence Group.
“The outlook continues to be positive although there is an over dependency on a single commodity , namely copper which possess a risk as Zambia does not dictate terms of trade of this key export item,
“However, the presence of favourable factors to anchor long-term growth such as demographic profile, abundance of natural resources and stable geo-political climate continue to mitigate the risk of mono-economy dependency,” he said.
Mr Subramaniam also said the biggest opportunity visible on the horizon was in agriculture processing.
Value addition, he said, to the basic agriculture raw materials was the overall thematic opportunity.
“The drag on the manufacturing sector, which is endemic to the sub-Saharan region was a culmination of many factors,” he said.