THE Policy Monitoring and Research Centre (PMRC) has projected a 4 percent economic growth for Zambia in 2024 following the government’s continued policy reforms.
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PMRC executive director, Sydney Mwamba said Zambia’s economic outlook for 2024 shall remain positive with growth projected to increase due to higher global copper prices as well as the market confidence associated with ongoing fiscal consolidation measures.
In a statement issued to ZANIS in Lusaka, Mr Mwamba stated that the country in 2023 made significant advancements with regards to enhancing human development through increased investment in education.
He said government’s introduction of the Free Education Policy was one of the key milestones of 2023.
Mr Mwamba explained that in June, 2023, Government recorded another milestone by reaching a staff-level agreement with the Official Creditor Committee (OCC) on a debt treatment that was in line with the International Monetary Fund (IMF) programme parameters and agreed on the Memorandum of Understanding in October 2023.
“These developments are significant strides towards achieving long-term debt sustainability for Zambia. Going forward, Government has continued to seek agreements with private creditors, including Eurobond holders, consistent with the program parameters and on comparable terms, as defined by the official bilateral creditors,” Mr Mwamba said.
Mr Mwamba stated that the measures would help improve the business environment and consequently improve macroeconomic parameters which were key to economic stabilization of the country.
He commended government for consistently maintaining positive ties both bilaterally and multilaterally in the area of international cooperation.
He stated that the bilateral relations included the ongoing efforts by the United States government to restructure its partnership with Zambia, by enhancing its cooperation between the two countries. – ZANIS.
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