Zambie

1996: Pension Scheme Regulation Act No. 28; provides for the prudential regulation and supervision of occupational pension plans and requires all plans to be registered with the Registrar of Pensions and Insurance as well as to undergo regular actuarial valuation and financial auditing.

IN 2007, THE ECONOMY GREW JUST 5.8 per cent in Zambia, down from 6.2 per cent in 2006, primarily due to slower growth in the volume of copper production.The construction sector remained buoyant however, with growth remaining stable in 2007. In 2008 and 2009, the economy is expected to recover to just above 6 per cent growth with a strong increase in copper exports following huge investments in 2006 and 2007. This expansion in volume is expected to offset declining world market prices. On the negative side, adverse weather and increasing power outages at the beginning of 2008 will limit growth in agriculture and manufacturing.

A buoyant copper sector and strong growth in tourism and construction underpinned moderate growth in 2005. GDP growth of 4.5 per cent was, however, slower than expected, reflecting the drought experienced in many parts of the country, the high price of imported oil and fuel shortages, and a nonexpansionary fiscal policy. Stable fuel supplies, better rainfall and continuing investment in mining are expected to boost growth to 5 and 5.5 per cent in...

LA CROISSANCE MODÉRÉE EN 2005 s’est appuyée sur un secteur du cuivre florissant et sur l’essor du tourisme et du BTP. Avec une progression de 4.5 pour cent, la remontée du PIB s’est toutefois avérée plus lente qu’attendu, sous l’effet de la sécheresse qui a touché de nombreuses régions du pays, de la flambée des cours du pétrole importé et des pénuries de carburant, ainsi que d’une politique budgétaire non expansionniste. La stabilité de l’offre de carburant, une pluviosité plus favorable et la poursuite des investissements dans le secteur minier devraient pousser la croissance à respectivement 5 et 5.5 pour cent en 2006 et 2007.

AGAINST A BACKDROP OF ECONOMIC decline in the preceding two decades, Zambia achieved its fifth consecutive year of solid growth, with GDP growing at 5.1 per cent in 2004, significantly above the target of 3.5 per cent, as a result of strong copper output and exceptionally good agricultural performance. Strong GDP growth is expected to continue over 2005-06, at about 5 per cent, on account of increasing mining production and continuous efforts to raise agricultural productivity. However, the economy has not diversified...

En 1991, la Zambie a engagé de profondes réformes qui l’ont faite passer du statut d’économie à planification centralisée à celui d’économie de marché. Ce spectaculaire changement, qui a nécessité de privatiser une activité économique dont près de 80 pour cent relevaient initialement du secteur public et de libéraliser les prix de la plupart des produits de base, a redynamisé l’économie et engendré une croissance satisfaisante pendant la première moitié des années 90. En revanche, la Zambie n’est pas vraiment parvenue à diversifier ses exportations pour réduire sa forte dépendance à l’égard du cuivre, ni à gérer avec davantage d’efficience ses dépenses, dont le financement reste largement tributaire de l’aide extérieure ni, surtout, à faire diminuer la pauvreté. Ces insuffisances tiennent essentiellement aux retards dans la mise en application des réformes structurelles…

In 1991 Zambia started a radical reform path that transformed it from a centrally planned to a market economy. This dramatic change, which entailed privatising the initial close-to-80 per cent share of public economic activity and liberalising prices for most commodities, revived the economy and resulted in a good growth performance for the first half of the 1990s. Nevertheless, the government has not been very successful in diversifying the country’s export base away from its heavy dependency on copper, or managing its expenditures more efficiently, whose funding still strongly rely on foreign assistance, or, and most importantly, reducing poverty. These shortcomings originate mainly from delays in the implementation of structural reforms. Economic performance improved significantly in 2001 — GDP grew by 5.2 per cent — thanks to the recent investments in the privatised copper sector…