SITUMBEKO MUSOKOTWANE SAYS ZAMBIANS ALREADY EXPERIENCING BENEFITS OF IMPROVED ECONOMY
By Nelson Zulu
Former Finance and National Planning Minister Dr. Situmbeko Musokotwane says Zambians are already experiencing the benefits of improved macro-economic performance through interventions such as free education, expanded social protection programmes and stability in fuel pricing.
Speaking when he featured on the Friday’s edition of “Let the People Talk Programme” on Phoenix FM, Dr. Musokotwane acknowledged that prices of some essential commodities remain high but argued that they are lower compared to levels experienced under the Patriotic Front administration.
Dr. Musokotwane has attributed the economic challenges inherited by the UPND government in 2021 to what he described as negative economic growth, high debt levels and elevated inflation, which he says stood at about 22% at the time the party assumed office.
He says indicators such as foreign reserves growth, reduced inflation rate currently at 6.1% and progress in debt restructuring, which some opposition leaders have criticised, have contributed to improved economic stability and helped cushion the cost of living which is stable.
Dr. Musokotwane says Zambia must continue focusing on increasing production in key sectors such as agriculture, mining and business development to create jobs, boost incomes and sustain economic growth to ensure that the full benefits of the country's economic progress are realised.
PHOENIX NEWS