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Alba Iulia
Wednesday, May 25, 2022

Zambia is on course to attain single-digit inflation by the end of 2022-President Hichilema

Economy Zambia is on course to attain single-digit inflation by the end of...

President Hakainde Hichilema has said that Zambia is on course to attain single-digit inflation by the end of this year because the ongoing macro-economic stabilisation programme has started yielding positive results.

President Hichilema said that the reduced inflation rate to 15.1 per cent in January 2022 from 16.4 per cent recorded in December 2021 supported by the stability in the price of many goods, stable exchange rate, and the confidence stakeholders have in his government’s capabilities to manage the economy.

President Hichilema has said that a situation where people’s incomes or salaries every month are buying fewer goods and services each time the inflation rate increases will soon be over.

The President said that with a single-digit inflation rate, many benefits will accrue to citizens including stable and predictable prices of goods and services and increased purchasing power.

The President said that this will eventually lead to stable interest rates with dividends accruing to citizens as they can have access to cheaper financing to improve their businesses and welfare.

Meanwhile, President Hichilema has expressed sadness on the death of the 16 accident victims in Pemba district, Southern Province yesterday.

President Hichilema has sent a message of condolence to the families and friends of the deceased and said that his thoughts and prayers remain with the family and friends of the deceased.

President Hichilema has also sent his best wishes for a quick recovery to the accident victims in the hospital.

The Head of State has since emphasized the need to improve road safety on public roads by investing in quality road infrastructure.

President Hichilema said the Road Transport and Safety Agency (RTSA) will continue to receive all the support to help fulfil its mandate of promoting responsible behaviour on the roads.

He has further urged motorists to exercise maximum responsible behaviour while on the roads to safeguard lives.

The President said this today through his Spokesperson, Anthony Bwalya during a press briefing at State House.

19 COMMENTS

  1. That is what real presidents do than those cadres those cadres whose president made inflation to go high

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  2. If they don’t rein in the exchange rate which has now breached the K18 mark then this gains will all be reversed in the blink of an eye.

  3. Blah blah blah trying to divert attention…you need to resign on moral grounds you’ve violated the Zambian constitution by stealing government resources and abuse of office…you’re nothing but a liar and demagogue

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  4. Open CryptoCurrency mines. Do anyone in Zambia knows what Cryptocurrency and crypto mining is?
    That is a cheap and faster to make all Zambians millionaires within a year.

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  5. But which economic fundamentals have changed so much for the country to achieve a single digit inflation?
    Exchange rate is climbing, meaning our export earnings are not enough to sustain our imports.
    After all, we are a mono economy, dependant on imports.
    Prices for essential commodities are quite high, including mealie meal.
    So until, and unless we have increased production in real terms in our economy, I have trouble understanding what the president is saying.

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  6. What is the point of the SINGLE DIGIT INFLATION if the price of essentials keep on rising. Go to the market today it’s like it’s not a month-end…. there’s no business. Anybody who challenges this is either doing it out of blind loyalty or is completely out of the reality on the ground.

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  7. I remember how as viberant youth defended all MMD policies until we started losing jobs and becoming destitute…. it’s Deja Vu….part two.

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  8. He knows he messed up big time…he started lying first day in office…remember when he lied that he was invited to the USA by President Biden….it turned out he was just on his way to the UN…..HH is worse than Lungu….and the Oppenheimer and Gupta families are known Bandits in South Africa….we had one Muzungu in Zimbabwe the owner of Wheels of Africa if you remember those Trucks from Zim….Mr Rautenbach….these are big time Bandits….HH is busy auctioning Zambia

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  9. “What is the point of the SINGLE DIGIT INFLATION if the price of essentials keep on rising.”

    Will it make an impact of difference to zambia family if a loaf of bread cost 6 Kwacha instead of 23 kwacha per day ?
    That is it is 72% saving !!! – Common sense tells me it makes sense and worthwhile if a family will spend 180 kwacha per month instead of 690 kwacha.

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  10. Of course the first months of the bally leading will have some turbulence from the mess left by lungu and his gang of theives and the redistribution of wealth from the same gang and the clique to the wider population………..

    Pay these theives no mind…………

    Days of State capture by the clique and their tribal hegemonists are over………

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  11. Blah blah blah this is a talk show Govt. Hichilema let your finance minister talk about these things. This self praise will not take any body anywhere.

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  12. My primary school civics lesson taught me that inflation is when too much money chase too few goods. This the inflation we used to have in Unip days…we had shortages so the goods became very expensive. But today shops and markets are overflowing with all types of goods. Yet someone here is telling me that inflation is reduced. Even the dollar has become expensive on daily basis.

  13. Mealie meal is now at K 170.00 per 25Kg it’s supposed to be at K50 has you promised the people of Zambia.

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