Zambia has made positive economic strides – Kapwepwe

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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.

ZANIS/CBM/ENDS/MM

9 COMMENTS

  1. vote

    Can someone tell me,is this what is said by our GRZ, in Swaziland. i wonder if the meeting was about how zambia has stuggled to cushion the economy melt down. what was the agenda for this meeting?

  2. vote

    Madam Kapwepwe dont base your hope on copper again. The other sectors you initially mentioned are better than the copper, copper again

  3. vote

    But we also know that a drop in consumer spending can triger a drop in inflation rates. She is just another incompetent old woman i thought she was a little better than that. when you say its bearing fruits in the tourism sector i think the measure should be not just tourist traffic but also sector earnings against that which was projected before those ‘measures’ were introduced in the budget. how can we see any fruits in agriculture before we even have any harvest let alone sowing any seed. soon she will be making excuses that there was too much crop damage from the floods. we are sinking like PF’s boat.

  4. vote

    “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.”

    Firstly, why must Zambia a 13th poorest country in the world assist Zimbabwe? Where, when will we as Zambia in part as SADC help Zimbabwe? How is Zambia going to help Zimbabwe?

    Also, what is “global economic melt down” Mrs Deputy Minister of Finance Kapwepwe?

    I need your honest answers to the above questions from you or the 17 yr old MMD GRZ? It appears many of you GRZ official are just using words you do not understand.

  5. vote

    How is Zambia effected by the “economic melt down”? In what context are you, Mrs Deputy Minister Kapwepwe, talking about Zambia being in an “economic melt down”? Is the “economic melt down” in this case a national/country one? Or is it a global one?

    How are activities of an economic recession in the USA affecting Zambia as a 13th poorest country in the whole World?

    What is the way out of the national or global “economic melt down” that we are allegedly in?

    Why must Zambia use money coming from DFID of Britain to help the Zimbabwean government indirectly when Zimbabwe can access that money if she behaves according to the expected norms by our donors as Zambia?

    Such need…

  6. vote

    Madam Kapwepwe Mopani is kicking out about 300 workers next month, where is your recovery plan? There is a shortage of mealie meal in the country, people are fighting for the commodity, DO YOU EVER GO ROUND THE COUNTRY? PLEASE STOP TEASING THE PEOPLE OF ZAMBIA, WE ARE NOT HAPPY WITH THE CURRENT SITUATION.

  7. vote

    Some people only want to hear what they expect. They are not open to new ideas or even to accept what knowledgeable peole are telling them. Muzasala so chabe osauka if you cannot open your eyes and ears.

  8. vote

    iwe obama endorse or whatever u callong yoself,they deputy minister was asked to explain how zambia was handling they global economic crunch and answered accordingly.please dont show your ignorance on LT.

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