ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Today copper mining is central to the economic prospects for Zambia and covers 85% of all the country’s exports, but concerns remain that the economy is not diversified enough to cope with a collapse in international copper prices.

Detailed explanation-2: -GDP is projected to grow by 3.8% over 2022–24, buoyed by an improved macroeconomic environment; a positive copper price outlook and stable and predictable mining policy environment; and improved electricity supply.

Detailed explanation-3: -Zambia is also bordered by Angola, Botswana, the Democratic Republic of the Congo, Malawi, Mozambique, Namibia, and Tanzania. With an area of 752, 618 km², the country is slightly larger than twice the size of Germany or slightly larger than Texas. Zambia has a population of 15.9 million people.

Detailed explanation-4: -Zambia is classified as a lower-middle-income country by the World Bank in a recent report. When a country is classified as a developing country, it means it has a less developed industrial base and a low Human Development Index when compared to other countries.