ECONOMIC PROGRESS IMPRESSES CSPR

KELVIN MBEWE, Lusaka
THE Civil Society for Poverty Reduction (CSPR) is impressed with Zambia’s economic performance in the last six months following the robust economic stabilisation and growth programme Government is implementing.
CSPR advocate and communication coordinator Maxson Nkhoma said in an interview that projected gross domestic product (GDP) growth, stable exchange rate and registered growth in the agriculture sector are positive economic indicators.
The GDP is projected to increase in 2017 to 4.3 percent from the initial projection of 3.9 percent.
“The economic recovery plan is paying positive returns, the projected economic growth of the GDP was 3.2 percent but it will be 4.3 percent. This is a positive indicator,” he said.
Mr Nkhoma said the exchange rate has remained stable and predictable.
“Previously, the exchange rate was changing twice or more times in a day but it has remained stable and predictable. This makes people in business to be able to calculate their returns,” he said.
He said the impressive performance of the agriculture sector this year has seen the country recording a bumper harvest of 3.6 million metric tonnes of maize and that this will impact positively on the country’s economy.
“When you look at the agriculture produce this year, it has increased, meaning that there will be enough food which will be affordable to an ordinary Zambian. And if there is enough food, the country will also have enough to export thereby further strengthening the kwacha,” he said.
Mr Nkhoma, however, advised Government to tighten the austerity measures and consolidate the country’s fiscal discipline to ensure economic stability.
The Zambian Government officially launched its economic recovery programme on October 20, 2016.