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Monday, September 26, 2022

Government has put in place fundamentals to revive the Zambia’s economy-Matambo

Economy Government has put in place fundamentals to revive the Zambia's economy-Matambo

Copperbelt Province Minister, Elisha Matambo has said that the government has put in place several macroeconomic fundamentals to revive the country’s economy.

Mr Matambo said the new administration has put in place a tax administration system that has given a positive investment signal that Zambia is ready for business in the mining sector.

Mr Matambo said this when Bank of Zambia Governor, Denny Kalyalya called on him at his office in Ndola yesterday.

He stated that strides have also been made to revive the economy of the Copperbelt stating that government is working with various stakeholders to revamp the industrial area in Ndola to create more jobs for the local people.

Mr Matambo said despite some industries not being operational, Copperbelt remains the engine of the country’s economy.

He commended Dr. Kalyalya and his team for ensuring that government’s agenda to revive the economy is attained.

Mr. Matambo cited the single digit inflation rate attainment, stability of the Kwacha and the friendly business environment as key macro-economic indicators currently prevailing.

And Dr. Kalyalya said he is pleased to note that a lot of economic activities are happening on the Copperbelt.

Dr. Kalyalya said an increase in economic activities is an indication of economic growth.

He is accompanied to the Copperbelt by his deputy operations, Francis Chipimo.

2 COMMENTS

  1. What fundamentals Sir? The so called fundamentals are on paper. Fake lower inflation that does not translate in price reduction for the people. Never seen a country with lower inflation but prices of goods and services keep rising. High interest rates are not strong fundamentals. Businesses cannot borrow to support the economy. Only banks are beneffiting. High fuel prices does not support strong fundamentals. The Kwacha is slowly creeping back to K17/18 to the dollar. The bottom line is that do not give people false excitement. Even you Matambo you know very well that it is tough out there. Be sincere and tell Kalyalya ati tafili bwino.

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