Economic Development In Zambia

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The history of Zambia

Zambia at independence
The independence of Zambia in 1964 from the British left Zambia with an overabundance of copper reserves. These copper reserves together with the earnings from them stimulated a lot of wealth in the country. Zambia became the economic power house of the African region and as a result, a lot of labourers from neighbouring African countries began to move to Zambia for the employment opportunities presented by the. Despite this however, Zambia inherited from the colonial government a lot of social, political and economic problems hence the new government faced major challenges in trying to address these problems inherited from the colonial government.
These socio-economic challenges that Zambia faced impede the labour force of Zambia. Zambia as a result lacked individuals with the necessary skills and expertise needed for the overall development of the country. This also impacted negatively on governance in the country and the economy of the country because the necessary expertise to stimulate economic growth and development in the country were missing. The lack of trained human resource therefore presents a foundational problem for much of the errors in Zambia’s national administration and reforms which eventually presented a spill over effect to all other areas and sectors of the country.
The majority of the population in Zambia was largely rural because previously (under the colonial government) a lot of people were restricted from coming into town unless with a permit. When people could eventually move to the urban areas, people rushed to the city for a better access to opportunities. This resulted in demands beyond the control of the government which was already struggling. The rapid...

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...r debt relief under the Highly Indebted Poor Country Initiative, reducing the payment burden on the Government by USD 6 Billion. The Government has worked diligently to establish the Vision 2030 plan and the Fifth National Development Plan which will guide economic development in the coming years.10
The Ministry of Community Development and Social Services implements social protection strategies in Zambia, and, while their funding amounts to less than 1 percent of the national budget, this is higher than the regional average of 0.25 percent of GDP for social assistance. Developed countries spend an average of 2.5 percent of GDP on social assistance. According to the Fifth National Development Plan, the allocation for social protection will increase from 63 billion Kwacha (USD 13,461,538.46) in 2006, to 75 billion Kwacha (USD 16,025,641.03) in 2010.11

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