Thursday, December 30, 2010

Zambian economy to grow 7.1% in 2010

Zambia's economy is likely to grow by 7.1% in 2010, marginally up on earlier forecasts, due to increased mining activity, the Central Statistics Office (CSO) said Thursday.

"The preliminary estimates of Gross Domestic Product (GDP) show that the economy is likely to grow by 7.1% in 2010 compared to the 6.4% recorded in 2009," said CSO director John Kalumbi.

"This growth is largely driven by increased output in mining, quarrying, transport, agriculture and forestry," he added.

Zambia's finance and national planning minister Situmbeko Musokotwane said earlier this year that the economy would grow by 6.6% in 2010, and 6.4% in 2011.

Zambia is Africa's largest producer of copper and mining is the country's main economic driver.