What is Michael Sata's economic legacy? Here is how the Fredson Yamba (Treasury Secretary) explained it in a press release after Sata died :
Under [Sata's] able leadership and guidance, the economy grew by more than 6 percent per annum, well above the Sub- Saharan Africa average, while inflation has been contained within single-digits. The external sector, especially non-traditional exports grew significantly with agriculture exports exceeding US$1 billion dollars, the highest in the history of the country. This reflects his will for the country to diversify the economy.. As Zambians we also witnessed an unprecedented focus on capital investment in social and economic infrastructure, particularly in health, education, roads, rails, and energy sectors. Recognizing the high unemployment levels in the country particularly among our youth, the Government did put in place an Industrialization and Job Creation Strategy. This strategy is bearing fruit as seen through a sustained increase in additional jobs and incomes, which is important in lowering poverty... As a mark of growing investor confidence, Foreign Direct Investment has continued to grow reaching the peak of US $1.73 billion in 2012, the highest in 12 years. The investments have been broad-based-covering Government's priority economic sectors, namely agriculture, tourism, labour and export-led manufacturing, mining and construction. This is a reflection of the improved investment environment in the country, made possible by policy consistency and workable pro-private sector strategies.. (Source: "Zambia's economic performance under President Michael Sata", Ministry of Finance, 30 October 2014)
It is true that the economy grew, but it was growing around the same levels before Sata came to power! Same thing with inflation in single digits. The point on agriculture sector is interesting but that was because we subsidised more agriculture exports than before. It is also hardly a vast increase. ...
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