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Thursday, July 9, 2020

Government will ensure the Kwacha remains stable against major convertible currencies-Mutati

General News Government will ensure the Kwacha remains stable against major convertible currencies-Mutati

Minister of Finance Felix Mutati.
Minister of Finance Felix Mutati.

MINISTER of Finance Felix Mutati says Government will ensure the Kwacha remains stable against major convertible currencies to reduce unpredictability in the prices of imported goods and services.

Mr Mutati said in an interview that Government will build on the economic gains through continued implementation of viable policies and programmes in various sectors of the country’s economy.

He said Government will ensure Zambians benefit from economic gains through equitable distribution of resources and development.

“Our economy will remain stable and we will ensure Zambians benefit from this positive economic growth. Our overall macroeconomic objective is to stabilise and grow the economy,” Mr Mutati said.

He said the fiscal policies that Government has continued implementing under its robust economic stabilisation and growth programme have started yielding results.

Mr Mutati said Zambia’s economy is headed for remarkable growth owing to increased copper prices, continued growth of the agriculture sector and improved supply of electricity to productive sectors.

Mr Mutati said Government remains committed to making economic growth beneficial to the citizens by providing a sound framework for investment in the medium term in order to accelerate socio-economic development.

He said Government is also committed to providing a comprehensive medium-term strategy for an all-inclusive and sustainable development agenda.

Mr Mutati said agriculture, mining and manufacturing will continue being Government’s main growth sectors with the construction sector also poised to make significant contribution to the country’s economy.

Zambia’s growth trajectory has rebounded with the gross domestic product poised to increase in 2017 to 4.3 percent from the initial projection of 3.9 percent.

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  1. Mutati trying so hard to appease the IMF~really laughable!

    The economy is plummeted Mr MMD runner away to visionless PF. PF has put the economy in limbo due to their never ending corruption. Under Dr Mwanawasa, the GDP growth per capita was 7% but now with Mutati at the helm of finance ministry, GDP is growing less at 3%.
    Just go back to MMD & support your legitimate party president Dr Mumba iwe Mutati who failed economics & accounting uncountable times.

    IMF is laughing at PF economic buffoonery!

    The Skeleton Key

  2. I have started to respect you highly, can see you got your foot down. Silent but firmly in control. Go head big man , business must get done at all costs. You are a type of real hard workers for development. Keep me it up

  3. @kossy U Didnt say who was using the 100 kwacha notes to clean their back hole also u never stated where u came from when u visited zambia, did u also clean urs with 100 note, From the look u must be an economic refugeee in usa cleaning bqzungu pamatako

  4. “Mutati says Government will ensure the Kwacha remains stable against major convertible currencies to reduce unpredictability in the prices of imported goods and services”…

    How are you going to do that? Do you think that interventions supporting the Kwacha with BORROWED money is a sustainable strategy?

    Mr Mutati, you have obviously never heard of how George Soros BROKE THE BANK OF ENGLAND because of crazy policies like this. Google it.

    Do you really think that Zambia with its debt of 30 BILLION DOLLARS is in a better position than Britain was then? All you are doing is giving international businessmen a FREE RIDE to enrich themselves at the expense of poor Zambians that will have to PAY BACK THIS KALOBA!

    Short sighted ignorant policies that will bankrupt Zambia. Let the…

  5. Reportsin australian financial newspapers have stated that the chinese govt is tightening credit and after november their economy could retract dramatically. As our major financier let us not overcommit on projects that might not come to fruition.
    The $ as been weak against all major currencies due to the impact of trump. The kwach today is 9.07 so it has actually weakened over the last 3 weeks.

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