Finance and National Planning Deputy Minister Chileshe Kapwepwe says Zambia has made positive strides in addressing the impact of the global economic crunch on the country’s economy.
Ms. Kapwepwe says some of the incentives that her ministry has lined up in this year’s budget to cushion the impact are bearing fruit in the various sectors of the economy.
The Deputy Minister cited the Agricultural,Mining and Tourism sectors as some of the areas where government has pumped in billions of kwacha to stimulate growth.
She added that government has gone a step further in its quest to caution the impact by removing duty on the importation of agricultural machinery and improving tourism infrastructure countrywide.
She said the three sectors have the potential to turn around the current status of the economy.
Ms Kapwepwe said this today in an interview with ZANIS in Ezulwini valley in Swaziland.
She added that the upswing of copper prices on the world market as well as the reduction of the country’s inflation rate from 14 to 13.1 percent are some of the indicators that the economy is on the right track.
Ms. Kapwepwe called on Zambians to support government in its quest to caution the impact of the economic meltdown on the country’s economy.
“There is a lot of uncertainty from a lot of people as to when the country will come out of the economic melt down. But there is s a good sign especially in the copper prices which have taken an upswing in the recent weeks. We shall soon see a good improvement,” she assured.
She explained that countries have different strategies of addressing the economic melt down because of the different levels of the impact saying Zambia is however moving towards recovery.
The country will from the 4th to the 5th of April hold an indaba at the Mulungushi international conference center to chat the way forward on the impact of the global economic meltdown on Zambia.
Meanwhile, Ms. Kapwepwe expects the SADC region to assist Zimbabwe in its economic recovery plan.
She however said economic problems in Zimbabwe have come as a challenge to the region especially that the whole world was going through the economic melt down.
“We want to see how SADC will help Zimbabwe come out of its economic problems. We hope SADC countries will listen to that country’s request,” she said.
She noted that Zambia can only take position after the SADC Extraordinary discussions.