Saasa projects 3.5 pc economic growth

PROFESSOR Oliver Saasa has projected economic growth of between 2 and 3.5 percent in the next 2 years at a maximum, depending on strategies put in place by the Government. In an interview in Lusaka, Professor Saasa projected that the Zambian economy would grow between 2 and 3.5 percent in the next 2 years before it registered more positive growth in the third year. The professor explained that there might not be more economic growth if substantial changes were not put in place. “The economy at the moment is not in a very good shape. We downscaled the projected growth because of the continuing external factors but also the immediate change that must take place internally. “It depends on how we are going to manage the International Monetary Fund (IMF) programme. I am listening and carefully watching and waiting to see how the Government proceeds with this. Without much change, we might not see growth,’’ he said. Professor Saasa said there was need to ensure that the strategies that were to be put in place yield intended results for economic growth. “Unfortunately the next 2 years in terms of my projections will still not be the sort of growth that we want to see, probably hovering between 2 and 3.5

percent at the maximum and

after that, if the changes, that they are going to put in place are going to yield fruits, then perhaps in the third year onwards. “It is now when we can see more positive change that is also the projection of the IMF and everybody who is monitoring the macroeconomic fundamentals in Zambia,” he said.