The United Party for National Development (UPND) President Hakainde Hichilema has said that the increase in food inflation in Zambia is not a result of economic sabotage by business people.
In a statement released by the UPND media team, Mr Hichilema said that the increase in prices is due to people running the country who have no clue on what is happening to the economy because they spend most of their time persecuting opponents and dishing out printed Kwacha.
Below is the full statement
In 2011 Zambia had a debt of US$1.1bn, the exchange rate to the dollar was K7, the inflation rate was 6%, today the debt is over US$15bn, the exchange rate is K22 inflation is 22.2%. These are signs of a badly managed economy, yet our colleagues in government claim that the increase in the prices of goods and services is economic sabotage by business people.
We are not surprised with such statements because these people have no clue on what is happening to the economy because they spend most of their time persecuting opponents and dishing out printed Kwacha.
This is a leadership that never accepts responsibility for anything but blames all the misfortunes on imaginary conspiracies.
They first blamed climate change, then blamed COVID 19, blamed some of us for all their failures to manage the economy.
For some time now, we have been advising them against reckless borrowing, reckless expenditure, stop corruption and all the bad vices, but their response has been that we are bitter and jealous.
The real saboteurs of our economy are the PF leaders who are recklessly looting from the government treasury. They now have more money than the Zambian government.
That is the reason why under our Government, priority number one will be to fix the haemorrhaging economy by restructuring the debt. This will stabilise the exchange rate, reduce inflation and increase economic activity which will in turn create jobs. This is what economic management means not hallucinations about imaginary sabotage.