Thursday, 23 October 2008
Zambia shrugs of copper decline
Zambia, Africa's biggest copper producer, obviously gets impacted by the dramatic 60%decline in the copper price. Indeed, the government has just cut its forecast for economic growth to 6 percent. Previous forecasts indicated growth of 7 percent this year, up from 5.4 percent in 2007. No forcast was made for 2009 but the country will struggle to achieve the same number as 2007.