Friday, March 29, 2024

Zambia recorded a favourable economic performance with a single digit inflation rate in 2018 – President Lungu

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President Edgar Lungu says Zambia recorded a favourable economic performance in 2018 with a single digit inflation rate.

President Lungu said the country had a stable electricity supply, relatively stable exchange rate and a single digit inflation rate which he said were some of the factors that contributed to the positive performance of the economy.

Stating that Zambia managed to showcase its economic potential by holding investment expositions in some provinces in 2018, Mr Lungu said he was certain that these events would lead to increased investments, create jobs and wealth for the country.

The President said his government will in 2019 replicate the investment exposition to other provinces that did not hold any in 2018.

The President said this in a new year message to the people of Zambia at the eve of new year which was broadcasted on both radio and the national television, ZNBC.

Government will also continue to implement various development projects in agriculture, water and sanitation, health, education, energy, housing and transport and communication among others, President Lungu said.

He expressed satisfaction that citizens were able to access various empowerment implemented by government for them to engage in economic activities.

President Lungu has assured the nation that his administration will in 2019 continue to ensure that development is taken to all parts of the country.

He acknowledged that the country in 2018 experienced improved political atmosphere among political players and thanked all stakeholders for contributing to deepening democratic tenants.

All stakeholders have a responsibility to build on the achievements scored in the area of politics in 2018 in order to Zambia which is safe and secure all citizens.

Mr. Lungu stressed that in order to achieve prosperity for all, all need to be done in 2019 despite the country recording tremendous successes.

He said the country needs to boost productivity at all levels and advised youths especially to engage in more productive and rewarding ventures in 2019.

The Republican President has however cautioned citizens to desist from engaging in vices such as GBV, exam malpractices, misuse of social media as well as alcohol and substance abuse.

He added that his administration desires to create a Zambia where everyone benefits from the national wealth and a Zambia where everyone has a sense of belonging without leaving any one behind.

30 COMMENTS

    • Fuel price is in double digits, dollar and pound to kwacha also double digit, mealie meal three digits, when are aiming for a single digit for these three

    • Let’s roll … this year we need to focus on growing this economy above 9%, Mr. President. Even though inflation was at 6.7% it eroded the gains in GDP because we averaged 4% so the general public did not really feel the actual economic gains made in 2018.

      This is going to be a great year and as your Number 1 Fan I am rooting for you very hard. Your success as President is also my success as a citizen and I wish you and your family well.

      Keep up the good work, all objective Zambians are able to see the strides you have made in your only 4 years as President, I can’t imagine how Zambia will look after 12 years of your presidency.

      Your Time Is Now … Because Zambia Is Greater Than Any Single One Of Us ~ B R Mumba, Sr.

      Happy New Year …

    • Look at this chi BR BAMBA JR..

      Ati in 4 years blah blah what of 12 years ?

      In 4 years we now owe close to $17 billion , with agriculture contracting and taxes of citizens almost unbearable, there was less jobs created in 2018 than in 2017….in 12 years Zambia will owe at least $23 billion…

    • Certainly, the country’ economy has been harming but the outlook for 2019 and beyond is very much positive. Any good economist and sincere captains of industries can see resilience as it steadily exiting a state of distress politically created by the alarm of our unpatriotic collaborators wishfully dreaming to usurp constitutional power. Good news the economy has the potentialities to rally for an attainable eight per cent growth in the next two years. By end of 2019, patriotic professionals will help the administration to build essential macroeconomic resilience for the country through revision of some existing policies, rebuilding some fiscal buffers, growing affected foreign exchange reserves and focusing more on import substitution strategies. Chagwa has laid a solid foundation for…

    • Lungu said this and that…where did this Lazy thing say this? All we know he is in bed nursing a hangover in Mfuwe…why can this cowering workshy bum show himsrlf via a press conference.

  1. Yes Lungu ,its little better than before but that’s bcuz you’ve been underperforming.Let’s wait for independent observers like IMF ,Moody’s and Fitch to give their more credible assessment.

    • @Mzambia wa Zamani,

      We are better grounded economists on Zambian matters than those remote theorists. If you have strong grounding in good economics you should deduce the fact that Chagwa has laid a solid foundation for the re-positioning Zambia to deliver impractical benefits for the country not far from this year. Time to ignore political vents of usual culprits has come. Give support for the common good of the motherland. As experts lets offer Think-tank services pro-bono to consolidate growth and prosperity. We can help in building and accelerating equitable growth that includes good investments that creates internal capacity across the country, help improve Zambia’s revenue mobilization, help enhance foreign reserves, create export oriented economy with capacity that supports…

    • Mzambia wa Zamani – dont mind this man Senior Citizen these are the people who used to insult old man Sata like Dora (just see LT articles 2011 to 2015) now that they have their puppet in name of Lazy Lungu very close to their RB with MMD ministers they suddenly see nothing wrong with PF.

  2. In just 3 short years the man has managed to bring the country to it’s knees,meanwhile his focus is 2021.Personally i would just like to see how he will reach there because the country is broke and the man clearly has no ideas of how to change things.

  3. High single digits inflation of 7.4% with a lower growth of 4% , higher foreign debts and high budget deficits at over 7% – Lungu that’s NOT a favourable economic performance.

  4. Oh , Bwana Lungu did I mention that agriculture ,forestry and fishing recorded negative growth of 15.4% last quarter?

    • This is all published by Amos and SG Mwila…Lazy Lungu is not even aware of it; he just signs things in the State House bar and waits for trips to fly out…I mean this is a President who never held a single press conference in 2018 but made the most statements from airport tarmacs all over the world.

  5. You talk about agriculture when you don’t no the number of fertilizers should be applied in 1hacter and the cup to use.written speech easy to read but difficult to implement.yes within statehouse I agree but out side the statehouse very is no double digits.

  6. Booza!

    Happy new year to you all. Wishing you a prosperous and fulfilling new year. If I stepped on your toes in my contributions especially to PF Cadres, bloggers who are paid to counteract the truth and others out of shear ignorance, you deserve it. I was critical in the MMD, I am critical in PF and I will be critical in the next government. I am for the bigger picture. I am just paying my debt to mother Zambia. I know that those who are supporting PF will come round one day. Thanks to my comrades in the struggle. You are all my brothers and sisters. For now, I hope the Government adds another dosage to the spyware from Israel, aluta continua!

  7. That is our great president ECL those with eyes let them see the development our country is going through. Some people are there to condemn every president who comes even the Upnd wamuyayaya leader you turn around and condemn him

  8. Our roads are been worked on countrywide and more to come this year.credit to to H.E and his team.Zambia will never be the same. Zikomo ba Kateka

  9. Superb message assuring all Zambians that we should roll our sleeves and work even harder for our own prosperity.
    Let’s learn to be each other’s keeper as hard times come, though we expect a fairly well managed economy, with less skirmishes among political players. Long live Zambia, the country, we love most.

  10. Mixed sentiments as I can see, but that it is expected in a fast growing economy like ours.

    We may not be the best performing economy on the continent in 2018 but at least we made our strides towards progress. There is always a conundrum when it comes to development but experts know that as long as there is still potential, you look forwards not backwards.

    I regularly check the performance of African currencies and this time, I was impressed to see the Kwacha among the top ten, even better than the Naira. What more can I say? Complaining is not a stragtegy, it feels better to wire some cash over to my mother now and then – help improve their household livelihood and at the same time contribute to GDP growth.

    Happy New Year everyone!

    • Nine Chale – I hope in 2019 you will move off that fence and stop beating about the bush and acting like a shy teen age little girl.

    • Macro vs Micro economic indicators.
      You tar a dirt road going through Misisi compound and you call that development.
      Yet Misisi compound still remains an unplanned settlement without a proper water supply,sanitation and security.
      That is development according to PF and its blind followers

  11. Macro vs Micro economic indicators.
    You tar a dirt road going through Misisi compound and you call that development.
    Yet Misisi compound still remains an unplanned settlement without a proper water supply,sanitation and security.
    That is development according to PF and its blind followers

  12. Inflation is in single figures only in their books every one else’s books it’s in double figures. Why doesn’t he talk of things that used to be single figures but have gone to double figures under his watch like the exchange rate and prices of basic commodities like bread & sugar. Or he could even talk about jumping from 5 figures to 6 figures like cost of toll gates and roads or even his salary.

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