Zambia Annual Business Confidence Survey

Alberto Dworin uses his work to promote economic dialogue. He is president of the Zambian Institute of Economic Studies, one of Zambia’s leading non-governmental organisations. *** Q. How do you assess your country’s economic…

Alberto Dworin uses his work to promote economic dialogue. He is president of the Zambian Institute of Economic Studies, one of Zambia’s leading non-governmental organisations.

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Q. How do you assess your country’s economic performance?

A. We have attained an average economic growth rate of 7% since 2006. We are benefiting from a favourable market environment and favourable effects of general diversification of the economy. The foreign exchange reserves of $1.8 billion have significantly mitigated the market shocks that led to exchange rate volatility and price inflation. Our success is also due to the energy policies we formulated during the decade of independence as well as well-founded and sound macroeconomic policies.

Q. What is the prospects for investment in Zambia in the future?

A. The increased interest from investors highlights the Zambian economy’s readiness to attract new capital. Investment is expected to grow from $5 billion last year to $10 billion by 2022. The Zambian economy’s robust fundamentals have attracted a range of investment, both from domestic and foreign sources. This will generate more jobs and allow local businesses to expand their capacities.

Q. What are your predictions for Zambia’s future?

A. Economic stability and growth will continue, and we anticipate a continued diversification of the economy. We expect the challenges of inflation and the exchange rate will be brought under control by two main factors: government policy and stabilisation of external shocks. Zambia will retain its position as an emerging economy. Zambia is equipped to deal with complex developments in the global economy.

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