FINANCE Deputy Minister Christopher Mvunga has urged Zambians to remain focused in the midst of economic challenges that the country is undergoing.
Mr Mvunga said it was important to remain focus during this period of economic difficulties as the Government puts in places various measures to help the economy stabilise.
“We need to be resilient, we need to be tough, strong and yes we are going through a bad patch but we must remain focused on what we want to believe and we will cross this difficult time,” he said
Mr Mvunga said the fundamentals in the economy are not destroyed and that the exchange rate was basically the function of the productivity of the country and Government had realised the need to diversify the economy.
“Let us diversify the economy, most the economies are growing at one-to-two per cent so we are still growing at around four to five per cent, it is a very big growth under the circumstance in terms of our Gross Domestic Product (GDP).
Look at the Southern African Development Community (SADC) we are among the few countries that are growing at that rate.
China itself used to be in the double digits but it is now growing at around seven per cent and we have projected for instance a growth rate of five per cent in 2016,” he said.
Mr Mvunga said this in an interview on the sidelines of the World Bank/International Monetary Fund (IMF) annual meetings in Lima, Peru.
He said President Edgar Lungu was much committed to diversifying the economy and the Government would ensure that the process was executed at a fast rate.
“When things are bad we need to manage expenditure very well to ensure that there was no wasteful expenditure and this is why you have seen we are using fiscal consolidation to make sure that we don’t waste money,” he said.
He said in the long term things would begin to turnaround in the economy as the Government sped up the efforts of diversification in the agriculture, tourism and manufacturing sectors.
Mr Mvunga observed that there had been a lot of misinformation about the state of the Zambian economy and the IMF/World Bank annual meetings in Lima presented an opportunity to engage with the investors, fund managers and the donor community, among others.
He said the various international stakeholders now clearly understood Zambia’s position and this was reinforced in the 2016 National Budget presented by Finance Minister Alexander Chikwanda in Parliament last Friday.
“There is some degree of comfort now in terms of the state of the economy and the lesson we should learn as Zambians is that we should engage in constructive criticism and if you want to engage in criticism at party level let us localize it. If you hurt the PF, you can hurt the PF and not Zambia because it creating a bad picture,” he said.
Mr Mvunga had several meetings with representatives of the donor community, the World Bank, the African Development Bank (AfDB), the Japan International Cooperation Agency (JICA), the IMF, United States of Africa (USA) and others from the multi-national cooperation.
There is time for everything ,we need to look forward and focus on positives not on negatives.
Trying saying that to someone who has lost their source of income and don’t know where money for the next meal will come from.
Zambia always teeters between bad and worse. There hasn’t been a good patch since you all insulted Kaunda and jailed him!
It is not that the Government does not know how, it is the Party controlling it that prefers policies of appeasement than creating an environment that promotes economic diversification. Slogans such as “more in your pockets” to group of youths drinking chibuku under a mango tree certainty do not inspire economic creativity.
@Nubian
No worries, there will prayers soon,, forgiveness and blessings are expected,,hopefully the kwacha wil pick immediately
@Ndobo , I here you. Even here in Australia our dollar has picked by nearly 3%. Its expected to keep heading up. Am sure we PF has also implemented policy to for the Kwacha to gain by tomorrow. They are very educated like Kambwili with the expertise of Chikwanda we should be one to one soon.
At least you’re honest. I like such people because we the Zambians will always support people that admit when things are not right.
If there was something the PF Government could do to lower the cost of living, am sure by now they would have done it. Am sure things are just beyond their control. All the best PF, God be with you!
You mean you don’t know what has collapsed your economy? One word_ corruption.
@ine wine absolutely! Nothing wrong with stating the facts as they are! But when things are going wrong and you say filifye bwino- I will assume that you are a nut! I can only assume that they PF are now caught up in the web of lies! It will be interesting how they will extricate themselves as the one in whom all the trust was ensconced in says ‘I am tired’! No joy!
Tell me which country were you never find corruption, rich or poor we face corrupt people. The thing is you do not have industries ,depending on mining and the worse thing is exporting raw material.
You smell corruption. So what are the prayers for? To continue your corrupt ways?
The PF kaponyas can you hear it ” the exchange rate is a reflection of the productivity of the country”
Not all those things you are blaming.
You mason ,we do not want blood money here in this country. Better to suffer than to sell our soul to your evil leader . Who is scaring even a mare prayer . 2016 will tell who is strong.
The title should have been: “The PF is destroying this country, we need to change leadership”.
…wrong statement….its those in the driving seat…in the cock pit.. who are supposed to remain focused on whatever measures they are trying to implement in this turbulent phase….meanwhile the ordinary citizens are supposed to fasten their seat belts….tighten their belts….
…for this to come from the ‘co-pilot’…then things are really bleak…gloomy…he has seen a very dark cloud in our path….we may pull thru but with a hell lot of casualties….with life long ‘injuries’….permanent deformities…and the worst… dying…..
…how did we get here…??..is it that the ‘pilots’ could only see at the end of the nose of the ‘plane’… their vision was impaired…?..or they just have a vision challenge..??
who is this guy fooling now he kno things are noy good in zambia but here u have head of a state hiring a plane to go to un there pf guys are fooling the zambians
In the 2016 Budget speech, government has correctly put the finger on the solution: Fiscal discipline. Unfortunately they did not in my opinion identify further what this would entail. Government should suspend the construction of Universities which in the long run it can’t fund anyway. Right now it’s failing to fund CBU and Unza. Also, there are no jobs for all those graduates who will be churned out. Roads and health infrastructure should however go ahead.
Meanwhil Lungu for 2016.
THIEVES HAVE LOOTED AND STOLEN A LOT, HENCE THE HEAVY BORROWING AND AND DEPLETION OF THE FOREIGN RESERVES. THIS IS WHAT HAS LANDED ZAMBIA INTO THIS MESS.
This is a very drunkard deputy minister he does not even remember what he said following day.
ACC I am with you, these new universities they are talking about just to appease regions borders on insanity on the part of the finance minister, let him rechannel funds to agriculture and tourism and fund the existing universities and colleges, we have so many colleges that can bring about the desired technohows if only they can receive funding.
There is a debate currently going on between Chishimba Kambwili and HH on how our Zambian economy is fairing. According to Kambwili’s school of thought gained from some university and experience in scrap metal dealing, Zambian economy is doing well and is ready to defend it violently at all cost. On the other hand, HH is challenging Kambwili to be man enough and real.
HH among other things has offered complexity management based on creativity and innovative managerial concept that recognises an ever changing economic landscape requiring complexity solutions. Kambwili is currently consulting for a rebatle response. We are waiting…….
Heads Down, Full Steam forward!! Never mind the Nay Sayers, we Patriots stand by our ordered gov’t and all things through the ballot box.
There is much blessing on Zambia because those that look up to Him in Prayer out number those that Mock Him. I sought a quiet prayer place and considered all of our country’s problems befor God Almighty. I came away with a message and a reminder to all. All Things Are Possible Through Him. He is able exceedingly, Supremely to turn around All things for Good. Through Jesus we must all lean on this promise.
M
I am surprised that someone in government is still talking about the need to diversfy the economy. This has been the song for many years now. walking the talk is way long overdue. Otherwise there is no hope.
@Cuito Cuanavale
Talking about songs, may I recommend Brick by Brick, a song that should be our personal anthem for when we loose hope. Here are some lyrics (find song on internet search)….
BRICK BY BRICK
NEWTON FAULKNER LYRICS
I’m hoping it’ll all get better
But it keeps on getting worse
Time and time again
People running as the earth shakes
Just another earthquake coming in
To break my faith in this
My best-laid plans are washed away
No time to make ’em all again
Sometimes life gets in the way
We’ve got to keep on breathing
Look how far we’ve come
Look what we’ve made
Started from nothing, building
[x2:]
Brick by, brick by
Brick by, brick by
Brick by, brick by
Brick
So we’re back to broken hearted
Back to where we started
Everything we built…
And when we lies hope too!!! It finishes with …….
BRICK BY BRICK
NEWTON FAULKNER LYRICS
So we’re back to broken hearted
Back to where we started
Everything we built gone down again
If this was in the movies
It’s said to be the truth
Bet no one would believe a word of it
Far reaching on the hillsides
Losing by a landslide
Everybody’s patience wearing thin
The drama ends and another begins
But if everybody loses, everybody wins
This is all about keeping the right attitude in times of distress and change. We all need to build again. Brick by brick and now lose faith in our ability to turn it all around again.
NOT LOSE FAITH… ,
Zambians! When would you stop giving sermons and start working. get out of your suits, forget those drinking sessions and most importantly forget the idea of becoming a white nation. A pair of shining boots, big lectures Gods and Church, drinking in the evening, having five girlfriends…these are all that you are. You think the rest of the world will call you white??????????????????? poof! how dumb. I have been abroad since many years. I have more white manners than you guys have. But I am still called a black. So respoect your own colours. Do not copy a developed country. But try to develop yourself. Only lectures lecturs and lectures. And after two beers, you guys become the dumbest of all.
God help you
We need to come up with a new word other than “diversification” because apparently what is written in the dictionary is not what is understood. This term gets used at every political meeting, tv interview, and radio broadcast but seems so mis-used. Diversify manufacturing, agricultural, and tourism? It all sounds so right but that is not a plan – that is just a motto. PF – lead us into true diversified change and stability and we will follow!!!
Kaunda did well because there was NO unrealistic opposition who want to derail every action that is done, be it good or out of taste to the very few in opposition especially the United Party for National Distraction. They want the PRESIDENT to succumb to their demands as if he’s a robot programmed by them.
Do u people know that toothpicks are made in China? How can u’ve a strong economy & currency when u import such things? This idea of comparing growths among big & small economies is very misleading. I think 2% growth of 1billion is better than 10% growth of 1 thousand jst like 1% growth of Chinese economy is better than 10% growth of zambian one.
Of doesn’t listen
They all look and behave like drunkards
It is good that GDP is growing and that we are doing well in the SADC region.
Let me go tell my landlord that GDP is growing, and pay my children’s school fees with GDP, and buy food with GDP.
Since GDP is growing, we can use some of it as food, maybe even use this GDP to pay off our debt.
GDP growing is excellent news.
Where can I get some of this GDP? Should I come with a wheelbarrow, or extra men to carry it? Is it very heavy?
#Bufi
#OneZambi