Current Economic Growth Cannot Cope Up with Poverty in Zambia

zambia economic growth

The current economic growth is not sufficient to cope up with poverty according to Finance Minister of Zambia. Despite of the fact that the country is growing at a slow pace economically, it is still too far from experiencing and remarkable results. The finance minister Chiwanda said, that Zambia is left behind from South Korea in economic growth though the GDP of both countries was same at the time of their independence.

When Zambia got independence the country’s GDP was $3 billion and south Korea stood at the same number, however after several years have been passed South Korea have recovered and moving forward with exponential growth rate with a GDP which 55 times higher than Zambia.