Secretary to the Treasury Fredson Yamba says the country’s economy has continued to perform favourably.
Mr. Yamba said the country has recorded high growth, low inflation, a strong external sector and stable financial sector.
He added that the fiscal management has remained prudent aimed at preserving resources for growth, and enhancing expenditures.
Mr. Yamba said this after the conclusion of article IV consultations with the International Monetary Fund (IMF) in Lusaka today.
The Secretary to the cabinet has meanwhile stated that the country still faces a number of challenges which include high poverty levels and unemployment.
He said government has however remained committed to ensuring sustainable and high growth so as to create employment, and reduce poverty while maintaining macroeconomic stability.
He added that the government will also continue reforms in public financial management for better budgetary planning and execution.
He has since pledged government commitment to work with institutions like IMF to enhance the livelihood of the Zambian people.
And IMF Chief of Mission to Zambia, Trevor Alleyne has also commended the positive macroeconomics performance for Zambia in 2011 which he said is expected to remain robust this year.
Mr. Alleyne stated that he expect the current account surplus for Zambia to remain broadly unchanged while the gross international reserves are also expected to continue to grow reaching the equivalent of 3.3 months of prospective imports.
The IMF mission visited Lusaka from February to March to conduct discussions for article IV consultations.