KABANDA CHULU, Lusaka
CENTRE for Trade Policy and Development executive director Isabel Mukelabai says Government should continue putting in place effective economic strategies to move away from copper dependence despite the slight increase in the price of copper.
Ms Mukelabai said vast potential exists in different sectors of the economy beyond copper mining.
“Economic growth in Zambia over the past years has been driven mainly by robust performances in the transport and communications, agriculture and construction sectors,”
“Low copper prices have strained the fiscal position of Zambia and this diminishes the growth prospects of the country. This simply reflects the urgent need for Government to put in place effective strategies to move away from copper dependence,” she said.
Ms Mukelabai said Zambia can expect a continued contraction of the economy before recovery due to various factors such as the continued power crisis, high interest rates, rising inflation and low rainfall patterns.
“We acknowledge that diversifying the economy away from dependence on copper and creation of decent jobs remain the overarching policy goals of Government but there should be urgent implementation of the diversification process,” she said.