20110607
Reuters
LUSAKA (Reuters) - The International Monetary Fund (IMF) is projecting economic growth of 7.4 percent for Zambia in 2012 from 6.8 percent this year, Finance minister Situmbeko Musokotwane said on Tuesday.

Musokotwane told a news conference the projection was obtained from an IMF document sent to his ministry last week.

"Part of this growth we are seeing is because African countries, including Zambia, are becoming big players in terms of exports," he said.

The IMF had also forecast that Africa's top copper producer would see its exports reach $10 billion in 2011 before rising to $11.5 billion in 2012, he said.

Musokotwane said Foreign Direct Investment (FDI) into Zambia was expected to rise to $1.7 billion in 2012 from $1.5 billion this year, largely driven by investment in mining and infrastructure.