0.1 percent Inflation drop, a positive indicator of growth – Prof. Saasa
Lusaka,March,1.ZANIS—A Lusaka based Economist, Professor Oliver Saasa, says Zambia is among the top 10 African Countries with a stable economy despite the current Global Financial Crisis.
Professor Saasa says the 0.1 percent slowdown in the annual inflation rate as reported in the February 2013 Central Statistical Office monthly bulletin is a positive indicator that reflects economic growth.
Professor Saasa said although it may appear minimal, the percentage means that the rate at which prices of goods and services are rising causes no serious effect on the country’s economy.
ZANIS reports that the Economist made this observation in an interview in Lusaka, today.
He said when compared with other Countries, Zambia’s economy is among the most stable and fastest growing in Africa.
Professor Saasa added that the trade surplus the country has continued to record is a plus for the economy, as it reflects that the country is doing well in the area of exports.
The Central Statistical Office (CSO) Monthly Bulletin for February 2013 shows that Zambia recorded a 0.1 per cent slowdown in the annual inflation rate, from 7.0 percent in January 2013 to 6.9 per cent in February 2013.
The bulletin also shows that the country recorded a trade surplus valued at KR192.8 million in January 2013 from KR 135.9 million recorded in December 2012.
Meanwhile, Republican Vice President, Guy Scott has urged Zambians not to be merely obsessed with figures regarding the Kwacha’s performance, but to be more concerned with how stable the currency is.
Dr. Scott told parliament today that the country is moving in the right direction, as it has a stable currency.
He also stated that a strong Kwacha is good for the country when importing.