The Economics Association of Zambia -EAZ- has described the performance of Zambia’s economy in 2018 as fair compared to other Southern African Countries.
EAZ President Lubinda Haabazoka says most countries in the region have recorded economic growth of three percent compared to Zambia whose growth is at about 4 percent despite challenges such as increase in the fuel prices which was caused by high crude prices on the international market at that time.
Dr. Haabazoka has told ZNBC news in an interview that going forward into 2019, the organisation is optimistic that government will manage to stabilize the economy even further.
Meanwhile, Dr. Haabazoka has advised the Mining sector to comply with the new mining tax regime.
He said the new taxes introduced by government will enhance government capacity to service its foreign debt as well as fostering the nation’s economy.
Has this guy become the new spokesperson for the government. Ever since his visit to state house he has been talking in favour of this government at every imaginable forum instead of taking a neutral and objective stand as EAZ. Now he says the economy has done fairly in 2018 with the increase in fuel and other commodities, the depreciation of the kwacha by 20%, the long growing list of loans and debt, the non payment of local suppliers contractors etc etc.
Firstly, growth is not at 4%. It’s less than that. How do you say Fair when your friends like Ethiopia and Ghana are at 7%? Zambia used to be at 7% a few years ago. We have become immuned to poverty and see it as a fair deal. And this man is an Economist?
Typo… By southern African countries he was comparing with none other than Zimbabwe.
This man is very intelligent. He understands economics than an average person in UPND. When you have a better performing economy it does not mean that everything is cosy. That is where real educated people differ from cadres like Larry Mweetwa and BoSpakata.
You are not happy because you want him to think like Chief Mukuni! The Dr. is his own man.
The pipo are suffering.
The PF experiment has collapsed. Next year with drought, low copper prices & failed IMF bail-out, it’ll be worse. Ala mukose.
he is correct…compare Zambia huh to Angola,Zim,Malawi,Moz,DRC,Madagascar,SA,Swaziland, Lesotho….u will agree
also Eritrea, Somalia, South Sudan, CAR ………………….
What are u smoking the so-called E.
I salute Dr.Haabazoka,
A man of Professional intergrity who wants to present well for his country and reports what is true on the ground. He can leader the nation because he is not caught up in biased reporting and interpreting things to suit and satisfy every one but truth. When we do better than our neighbors lets be proud of achievement and not jump to compare ourselves with the nations in the sky if there by any.
Thank you Dr. Haabazoka for giving the nation the hope we all need and the encouragement for the nation to even work hard in the coming years.
First up, the 4% is projected growth. First half growth averaged 3.3%. Second half growth is unlikely to beat that due to the 20% Kwacha depreciation and high fuel prices, relatively lower copper prices in second half, which, among other things, have increased the cost of doing business. GDP, by the production/value added approach, is simply gross output less intermediate consumption. So if input costs went up, the value added is likely to narrow in second half. I foresee l an overall GDP growth of 3% or less for the whole 2018. My EAZ president got it wrong, again!