RB cheered with re-classification of Zambia to middle-income country

RB cheered with re-classification of Zambia to middle-income country


Zambian Capital Lusaka viewed from the Southern part

President Rupiah Banda has welcomed the World Bank’s announcement to re-classify Zambia as a middle-income country saying this reinforces his achievements in building a better future for all Zambians.

In last week’s World Bank annual assessment of poor countries, Zambia was the 27th country to be re-classified since the year 2000 – ahead of Ghana at 28.

His spokesperson Dickson Jere said in an e-statement that president Banda and his government have been working tirelessly to deliver economic prosperity to all Zambians by providing more education and employment opportunities and encouraging international investment in the country.

About the World Bank announcement, President Banda said: “This decision is the latest in a long line of economic achievements which are directly impacting the people of Zambia.  Our economy is delivering growth of more that seven percent despite continued recession in many parts of the world, thanks to sound government policies, and it is good that this is being recognised again on the world stage. I now want to lock-in the stability that our new status brings; I want all Zambians to start feeling the benefits of better salaries and a better standard of living.

He continued “My goal has always been for Zambia to achieve a better place in the world.  We will achieve this through establishing security, stability and prosperity for all Zambians. Having a stable economy which will yield jobs and increase foreign investment, erode poverty and maintain steady food production and lower prices is critical, and my government will continue to work hard to achieve this on behalf of all the Zambian people.”

According to the statement, the government is also in the process of establishing multi-facility economic zones and industrial parks to promote the manufacturing sector.


Share this post