Former Commerce, Trade and Industry Minister, Felix Mutati, has observed that the depreciation of the Kwacha against the major foreign currencies has affected the construction industry which relies very much on imported materials.
Mr. Mutati told QFM Business News in an interview that this has resulted in the volumes of employment in the construction industry being negatively affected.
He said government should initiate new mechanisms of revenue collection and ensure there is compression of expenditure if the kwacha is to regain its strength.
Mr. Mutati stated that there is also need to minimise the deficit to allow the private sector to have better access to the financial sector.
He said if such measures can be put in place, the country%u2019s economy will be headed for greater heights.
BOZ Exchange Rates
|14 May 2014|
|Average Overnight Interbank Interest Rates|
|14 May 2014||16.5600|