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.