Photo: Vanguard

Unemployed youths in Nigeria.

THE Patriotic Front (PF) Government has created 195,744 jobs since assuming office in 2011, President Michael Sata has said.

Mr Sata said yesterday that his administration would continue with pragmatic strategies to create more job opportunities while working towards lowering costs in the economy.

About 9, 716 jobs have been created in the central Government while the local Government has absorbed 5, 257 people.

The private sector accounted for 24, 098 with 5, 510 being actualised through the Zambia Development Agency (ZDA) in the period 2011 to 2012 pledged investments.

A total of 5, 858 jobs have been approved for recruitment in the newly created districts.

Parastatals accounted for 29, 305 while 116, 000 jobs were created in arts.

The President announced this in a statement issued by State House Special Assistant for Press and Public Relations George Chellah in Lusaka.

President Sata said focus would continue on growing the economy faster and making it labour-absorbing.

The President said preliminary estimates for 2012 were that the real Gross Domestic Product (GDP) grew by 7.3 per cent compared to 6.8 per cent in 2011.

"Consistent with positive economic growth rates has been an improvement in real GDP per capita, which rose to an estimated US$1, 500.0 in 2012 from US$1, 463.0 the previous year.

"As at end-December 2012 foreign reserves rose to US$3.215 billion compared to US$2.322 billion as at end-December 2011, while foreign investment pledged for 2012 was US$10.089 billion," Mr Sata said.

He said though macro-economic stability and appreciable economic growth had been achieved over the recent past, the main task that remained was that of meeting the basic needs of Zambians as poverty levels and unemployment still remained a challenge.

Mr Sata said the growth in GDP reflected the Government's pro-growth policies and maintenance of macro-economic stability.

He pledged continued commitment to lowering costs in the economy, especially as these costs contribute towards limiting employment growth as well as raising costs for poor households.

President Sata reiterated Government's vision to creating a better Zambia for all by supporting the initiative of the people in the robust economic transformation of the country.