Development due to Dr Chiluba ' Dr Musokotwane
Minister of Finance Situmbeko Musokotwane says the economic growth Zambia is experiencing is as a result of the bold steps Second Republican President Frederick Chiluba took to privatize the economy.
Dr. Musokotwane says Dr. Chiluba unlocked the private sector when he privatized the economy.
He says Zambia's economy will continue to grow as long as the country remains peaceful and maintains economic fundamentals such as inflation.
Dr. Musokotwane says peace is also an important element for investments flow.
He says the inflation rate should remain low if Zambia is to continue recording economic growth.
The Minister was speaking when he officiated at the Economic Review and Trade Finance Seminar organised by Access Bank in Lusaka.
He says part of the country's economic growth will remain in the mining sector and that one third of all taxes in the country will be generated from mining firms.
And when presenting an overview of the Zambian economy, Leader of Deloitte Mining Advisory Services Ebrahim Takolia said the country's GDP growth is expected to continue over the years.
Mr. Takolia says copper and cobalt will continue to play a significant role in Zambia's economy.
He also said there has been a significant increase in foreign investments since 2000.
And Access Bank Zambia Managing Director Mukwandi Chibesakunda says the bank is ranked tenth in the industry, with deposit liabilities of about eighty million United States dollars.
The ranking shows 135 percent growth from thirty four million US dollars in 2009.