Zambia's economy is expected to grow by more than 4 percent this year helped by the mining, agriculture and construction sectors, Finance Minister Margaret Mwanakatwe said. Economic growth in Africa's second-largest copper producer rose to 4.1 percent last year, helped in part by higher commodity prices.
Officials had initially targeted at least 5 percent growth this year, but Mwanakatwe's comments in a statement issued by the finance ministry suggest growth could be closer to last year's level. Zambia, which expects copper output to rise to over 1 million tonnes this year, slapped Canadian miner First Quantum Minerals with a massive $8 billion tax bill last month. It has held talks with the International Monetary Fund (IMF) over an aid programme, but the IMF rejected its debt management plans in February.