“What has happened as the result of the death of the president is not new, we went through this six years ago and we came out of it with flying colours. I don’t expect the situation to be any different this time around,” said Vernon Mwaanga, former member of the Zambian parliament during an interview with CNBC Africa.
The country’s parliament is adjourned indefinitely in preparation for the president’s burial which will take place next week. Parliament is set to resume following president Sata’s burial on 11 November. Parliament will then proceed with the approval of the 2015 budget that was presented by the finance minister.
“I think the economic fundamentals are pretty strong. I don’t expect that they’ll be much change in what is going to happen either during this transition period, between now and January when we have the presidential by election, and beyond,” he said.
Mwaanga says that the country continues to follow through with its plans in order to make sure that the economic fundamentals remain steady. Some of these plans were set out in the national budget which was recently presented to parliament.
“Some of the priorities include infrastructure, development, continuation of developing energy projects in various parts of the country, a vibrant road network and a vibrant mining sector on which Zambia’s economy is largely dependent and a vibrant agriculture sector.”
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As Mwaanga looks to the future he predicts that the Zambian economy may surpass its current growth rate of roughly seven percent.