The pronouncement by President Edgar Lungu that his Government shall create 500,000 jobs by 2016 is simply nkhani zamu Jameson or indeed nkhani zamu Kachasu because it is totally unattainable looking at the prevailing realities with regards to the economy.
The so called Youth Policy and Action Plan does not even address HOW it will create the 500,000 jobs.
The President has been forced by his spin doctors to say something positive, looking at the fact that every news on the economy has been negative. It is not possible to create 500,000 jobs by 2016 because the National Budget has collapsed and the economy is on its knees.
HERE ARE THE FACTS
1. We have a budget deficit of over 20 Billion Kwacha, translating into almost half of the entire 2014/15 national budget.
2. The Public debt has ballooned to about 10 Billion Dollars from 3.5 Billion Dollars in 2011, representing an increase of about 187%.
3. With the issuance of the 1.25 Billion Dollars EuroBond, the debt levels will go beyond the recommended ”below 40% of the GDP threshold”. This means that as a country we will be spending most of our revenue on servicing public debt as opposed to investing this money in social and economic sectors. This will automatically reduce productivity as we are spending less on the productive sectors of the economy. In fact we are currently spending more than we are earning that is why we have this huge budget deficit and we have so far used about 13.7 Billion Kwacha on an unplanned activities due to the recklessness and fiscal indiscipline of Mr. Lungu and his Paya Future Government.
4. Investors have lost confidence in our country due to the FLAWED and INCOMPETENT manner in which the Paya Future Government is managing our economy. No investor is willing to invest in a sinking economy littered with INCONSISTENT and UNPREDICTABLE Policy pronouncements.
5. Companies are laying off workers and small businesses are folding up due to the MASSIVE LOAD SHEDDING compounded by high cost of doing business due to high fuel prices and high electricity tariffs.
6. Copper outputs and Copper prices have continued sliding down resulting into reduced revenue collection by the State. The country’s coffers are dry and we are surviving on Kaloba.
7. Our trade deficit has gone up as we are importing almost everything. As at May, 2015 our trade deficit was 300 million Dollars. Non traditional exports have declined by 27% in the last 6 months.
8. Kwacha YAGWA. The Kwacha has depreciated by about 59% in the last 6 Months from K4.5 per Dollar to K7.8 per Dollar
9. This PAYA FUTURE Government has not invested in the processing and manufacturing sector of the economy since they came into Government. There is inadequate investment in the productive sector to ensure high productivity, value addition and increased foreign exchange incomes.
These are the facts. So how then does Mr. Edgar Chagwa Lungu expect to create 500,000 jobs by 2016? He is late! He can’t fool the Zambian people any more. Their don’t Kubeba Gimmick has long expired. The PF can no longer use empty promises to hoodwink the Zambian voters.
If you look at his so called Youth Policy and Action Plan there is nothing new he is talking about. He says he wants to create 500,000 jobs through apprenticeship and internship. How is he going to do that when he has failed to run even a single Public University?
The Trade Schools, colleges and universities are in a state of disrepair. They have a critical shortage of staff, books, equipment, resources centers and other critical teaching and learning implements. There are literally no industries. All we have are shopping malls so how will his purported apprenticeship and internship program going to succeed?
He says he will create jobs by expanding low interest financial facilities targeting youth led businesses. Surely, the President has to be honest with himself. How many youths can access a loan from the bank? What are the requirements do the banks ask for for one to access a loan? What are the interest rates? The bank’s loan conditionalities are cumbersome and very few Youths have the necessary collateral to access loans from our banks.
Even Government-run financial schemes such as the Youth Empowerment Fund and the Citizens Economic Empowerment Fund have alluded the majority of our youths. These Schemes are inadequate, mismanaged and have highly been politicized. Only PF cadres and their cohorts are benefiting from the Youth Empowerment Fund and the Citizens Economic Empowerment Fund.
The story of creating 500,000 is indeed ilyashi ya muma Jameson.
Issued by:
Antonio Mwanza,
FDD Spokesperson.
What is Jameson?
I keep reading this here. I thought I should now seek to be educated, especially because I was born in Fort Jameson.
Thanks for educating me.
Jameson is a type of whisky dear fellow blogger.
In the first place we dont have a 2014/2015 budget…… From the 2008…. to be specific 2009 budget cycle was changed to calender year…….. therefore what we have now is a 2015 budget…… i wonder which budget your FIDIDI Party will be implementing……. the rest of your arguments Antonio Chi car lar is just bull .sh.it
2014 / 2015 budget …. my foot….. budgets are now aligned to calender years….. thats why you cant form government ba fee car lar ba Fididi
How do these guys oppose everything. Let the President explain how the government shall achieve this wonderful almost spellbinding feat, then comment hahahahaha.
Does Lungu think he is talking to a bunch monkeys that cannot understand basic economics?
We understand this very well. More money in the pocket is just bullsheet. It is NO money in the pocket! And no money for development too.
And he is still trying to make us believe his LIES!
By 2016 there will be 500,000 LESS jobs in Zambia.
And we will hang him by the balls for his LIES!
The Youth Policy has a timeframe …..refer to it ba swine
Is it 90 days? Tell us Alinaswe some of you cadres even after being repeatedly r.a.p.e.d you still accept a date from your r.a.p.i.s.t. I think you just love being f’d
And what if it happens…….worst case scenario, he achieves half the projected figure even???
Then pigs will fly, make sure you have your camera on ready
@Analist Dont think u know it all my boy.Your basic knowledge of economics isnt helping u understand fiscal issues.Budgets re aligned to carlender years and budgetory components can be deferred to another future date,whilst accomplishing other fiscal missions.Dont be easily cowed into believing falsehood from negligible politicians like Antonio.U could even be better than him in terms understanding of these national issues.
Its pathetic, am so glad am out of Zambia.
So someone please enlighten me. How will 500 000 jobs be created when at present businesses are folding up and laying of workers because of poor production caused by the load shedding? Is it possible to create this number of jobs in an ailing economy? Empty promises to who? The youth? Or gullible citizens? Well I wish EL luck!
Your question is like asking how the population grows when people die everyday. Is is all about numbers. As some companies close or down size, some more are being created. Go to PACRA and educate yourself. All loans given from govt to women, youths and other citizens results in new jobs, directly and indirectly. All construction going on by govt and people building houses through out Zambia have employed people. So please widen up your view and stop politicking at everything.
Prophet of doom. Nothing is impossible in the world. You seem to have very limited knowledge about the subject and is giving fake data. Which Kwacha was exchanging at 4.5 to a dollar 6 months ago. You don’t even know the number of jobs that have been created since the PF took over. All the infrastructure build up going on has employed people. All the new companies opened in the last 3 years have employed people. All the youths and other citizens supported through CEEC, women and youth empowerment funds have employed people. Govt itself has employed more teachers, health workers, Police officers and many more new employees in various departments.
Trouble is you want to politicise everything. Government have best brains (graduates)employed and they are the ones advising them. In your…
500,000 jobs divide by 16 months remaining by December 2016 = 31,250 jobs per month. An average of 1,041 jobs per day. Or are we looking at the entire PF term? Is this achievable? I need to sleep over these questions and see if I can get answers.