Zambia sees economic growth of 7%

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Kasama, Zambia - Economic growth in Zambia should reach 7 percent by the end of 2013, deputy central bank governor Bwalya Ng'andu said on Friday.

Inflation in Africa's top copper producer should also end the year around 6 percent, Ng'andu told reporters in Kasama, about 800 km north of the capital Lusaka.

“On balance we are reasonably confident that we should be ending 2013 somewhere around 6 percent inflation and 7 percent growth,” he said, speaking after the launch of a new branch of Indo-Zambia Bank.

“The biggest factor for inflation in this country is food and as long as we control that variable we should be okay. Already we are at 7 percent inflation and without any distabilising pressures we should be able to get close to 6 percent.” - Reuters

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