President Edgar Lungu’s Special Assistant for Press and Public Relations Amos Chanda State House has lashed out at critics of President Lungu’s State of the Nation address to Parliament.
Various economic observers have criticised President Lungu for failing to address the current economic woes during his opening of Parliament.
Some feel that President Lungu failed to lay down a plan of how his Government will tackle the depreciation of the Kwacha.
But Mr Chanda said President Lungu addressed the issue of the Kwacha broadly when he talked about fundamental issues which have led to the depreciation of the currency.
‘The Presidents critics over the speech only wanted him to say the word Kwacha then they would know that he has addressed the problem of the Kwacha, ‘ he said.
He added, ‘The fundamental problems that trouble the Kwacha are issues of lack of diversification, as long as we don’t diversify the economy away from Copper then we have limited space for exports.’
Mr Chanda said President Lungu addressed broadly and very comprehensively the issue of economic diversification.
‘He addressed the issue of diversification and it is through diversification that we can bring about an economy that exports, when we export then we can earn sufficient dollar liquidity that is required in the market to cool off the market and reduce pressure on the Kwacha and therefore the dollar Kwacha equilibrium could be somewhere where it is acceptable. ‘
He said, ‘So critics should go and read Economics again, when this economy expanded in the manner the President proposed, then we will see that he has addressed fundamentals that come to trouble the Kwacha.’
Meanwhile, Public Policy analyst Mbita Chitala has observed that President Edgar Lungu’s speech to Parliament last Friday laid a good foundation for a developmental national budget for 2016.
Dr. Chitala says he expects the 2016 national budget to support the ongoing infrastructure development projects in thChitalae country.
In an interview with Qfm News, Dr. Chitala is certain that Finance Minister Alexander Chikwanda will present a budget that will deal with the current fiscal difficulties Zambia is faced with.
Dr. Chitala has cited the volatile exchange rate and the current load shedding in the country as some the immediate challenges the 2016 national budget should deal with.
He is of the view that the whole idea of the 2016 national budget should be to reduce on the anguish the people of Zambia are presently going through.
Dr. Chitala states that this is particularly that President Lungu’s speech during the opening of the 5th session of the 11th National Assembly has come as a breath of fresh air to many Zambians.