GOVERNMENT is confident that the country’s economy will grow by more than five percent next year after the budget cycle is changed.
Minister of Commerce Trade and Industry, Felix Mutati said this in Ndola yesterday when touring some stands at the Zambia International Trade Fair (ZITF).
“We hope that next year with the change in the budget cycle, there will be significant change in Government delivery and growth,” Mr Mutati said.
He was concerned that Government last year returned K900 million to the treasury because the 10-month implementation period for its programmes and projects is inadequate.
Mr Mutati said with the change in the budget cycle, the implementation period for Government projects and programmes will be extended to 12 months.
He said with the change in the budget cycle, the country’s economy will grow by more than 5 percent next year because Government will have a longer implementation period for its projects and programmes.
Mr Mutati also said the Zambia International Trade Fair (ZITF) is a key factor in bringing together various players in the business sector so that they can begin transacting.
He was also happy that the number of exhibitors at the ZITF has increased despite the effects of the global financial crisis.
Meanwhile, the Communications Authority (CA) says Zain Zambia has resolved a network problem that its subscribers have recently been experiencing.
This follows a 48-hour ultimatum the CA gave Zain Zambia to resolve the network problems and that failure to do so would attract penalties.
CA director for international and public relations, Lotty Kakubo said this in a statement issued at the Zambia International Trade Fair (ZITF) in Ndola yesterday.
[Zambia Daily Mail]
Oh please spare us this nonsense twapapata!
Mr Mutati is very right. We need to have enough time to implement projects in the budget and the restructuring of the budget cycle is a step forward.
We are all very confident that the economy will grow by more than 5% next year.
Everyone welcomes this move Mr. Mutati and everyone is confident in your words. We are all behind you Mr. Mutati and continue delivering and doing the good job you have been doing.
Some Economist on LT was predicting that the economy was going to grow by the same margine last year. Funny that is!
Better be sure minister before you talk. All economies in are reverse gears, except the Zed, what magic are using Luapula 1 iya bena Katele.
Rubish!!!
On “He said with the change in the budget cycle, the country’s economy will grow by more than 5 percent next year because Government will have a longer implementation period for its projects and programmes“, I have failed to grasp this statement one year is still year of implementation.
I am just hoping that the Minister was day-dreaming or the reporter did not get the correct message across.
Anyhow, it will be nice to read a defence on this above terrible quote.
Be blessed you all.
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Matthew 6:33 + KJV Bible
you telling the whole nation that the economy will grow is not a bad idea. What we want is real growth and not just talking.
Ok, lets wait and see if that will materialised coz we have had heard that before but nothing tangible ever being realised
Nothing against optimism but I think 5% growth within 1 year is too high for a country with a limited number of local companies having a sound balance sheet.
oh yeah?
What quantum is this minister basing his prediction on? All economies in the world are in meltdown and what niche does Zed have to attract such a huge % growth? The issue I have with our leaders is they just talk without backing their assumptions. We all know that the peiced of copper has dipped and our trade volumes has gone down as well, so where is this growth gonna come from. Beats me.
I appreciate the need for positivity and prudent planning, so i hope the minister is privy to more information than me about how to get our country out of this economic mess. I get the impression that most people in Zambia (Politicians) included, feel that the global recession does not affect us and is far removed. We seem to have forgotten that our current economic problems began during the last global recession of the 70’s. Copper prices dipped and Zambia got hooked on debt. Prior to that, we were one of the Richest countries in Africa. I dont know to what extent we have diversified our economy inorder to mitigate the impact of the current recession, but like i said, lets do our best and also hope for the best.
So this growth manifests in what that I can see. To me it’s like listening to musicians from Jupiter playing some tune in jupiterian. You cant understand what they are saying. Can somebody explain it in simpler terms so that mum in Mporokoso wolud understand that even if she languishing in the slumbers of poverty, the economy is actually growing positively as said by our Minister.
Good news for mordern man.