MOF 2008 Report

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Republic of Zambia

ECONOMIC REPORT 2008

February, 2009Ministry of Finance and National Planning

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2008 Economic Report

Economic Report, 2008

Page

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Table of Contents

FOREWORD ...............................................................................................................III

CHAPTER 1

DEVELOPMENTS IN THE GLOBAL ECONOMY............................................1

1.1

Overview......................................................................................................................................1

1.2

Developments in Advanced Economies.......................................................................................1

1.3

Developments in Sub-Saharan Africa..........................................................................................2

1.4

Commodity Price Developments.................................................................................................2

1.5

Impact of Global Developments on the Zambian Economy........................................................4

1.6

Outlook for 2009..........................................................................................................................4

CHAPTER 2

DEVELOPMENTS IN THE DOMESTIC ECONOMY........................................5

2.1

Overview......................................................................................................................................5

2.2

Macroeconomic Performance.....................................................................................................5

2.3

Budget Performance..................................................................................................................12

2.4

Monetary and Financial Sector Developments..........................................................................12

2.5

External Sector Developments..................................................................................................13

2.6

Domestic Debt...........................................................................................................................13

CHAPTER 3 AGRICULTURE, FORESTRY AND FISHING.................................................15

3.1

Overview....................................................................................................................................15

3.2

Policy Developments..................................................................................................................15

3.3

Sector Performance...................................................................................................................15

3.4

Outlook......................................................................................................................................17

CHAPTER 4

MINING AND QUARRYING.....................................................................18

4.1

Overview....................................................................................................................................18

4.2

Policy Developments..................................................................................................................18

4.3

Sector Performance...................................................................................................................18

4.4

Outlook......................................................................................................................................19

CHAPTER 5

MANUFACTURING SECTOR....................................................................20

5.1

Overview....................................................................................................................................20

5.2

Policy Developments..................................................................................................................20

5.3

Sector Performance...................................................................................................................20

5.4

Outlook.....................................................................................................................................21

CHAPTER 6

ENERGY.................................................................................................22

6.1

Overview....................................................................................................................................22

6.2

Policy Developments..................................................................................................................22

6.3

Sector Performance...................................................................................................................22

6.4

Outlook......................................................................................................................................24

CHAPTER 7

TRANSPORT, STORAGE AND COMMUNICATION.....................................26

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