Bloomberg News

Zambia Economic Growth to Stay ‘Robust’ on Mining, Fundanga Says

July 27, 2011

July 27 (Bloomberg) -- Economic growth in Zambia, Africa’s biggest copper producer, will probably stay “robust,” led by mining, agriculture and tourism, said Caleb Fundanga, the governor of the country’s Lusaka-based central bank.

“The medium to long term prospects for Zambia’s economy are bright,” Fundanga said a copy of a speech e-mailed today. The government will use money earned from a growing copper mining industry to invest in infrastructure, such as roads, he said.

Food prices should remain low after a good corn harvest, with inflation forecast to stay below 10 percent, Fundanga said. The southern African nation’s economy will expand 6.8 percent this year, according to the International Monetary Fund.

To contact the reporter on this story: Anthony Mukwita at amukwita1@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net


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