Friday, March 29, 2024

President Hichilema projects 4% economic growth

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President Hakainde Hichilema has projected a 4% economic growth for Zambia in the medium term due to policies government has introduced to stabilize the economy.

President Hichilema said that fiscal discipline has led to the inflation rate dropping from 25% in August last year to 9.8% in August 2022.

The President was speaking when he officially opened the Second Session of the 13th National Assembly under the theme “Working Together Towards Social Economic Transformation,”.

President Hichilema said government has also stabilized the exchange rate with the Kwacha being rated as one of the best performing currencies in the world.

He said his administration’s economic policies have also increased the country’s import cover from 1.9 months last year to the current 3.7 months.

The Head of State said it is such prudent economic decisions and policies which saw the International Monetary Fund -IMF- granting Zambia the 1.3-billion financial bailout last week.

And in the agriculture sector, President HICHILEMA said the newly introduced Agriculture Support Programme will encompass more than just fertilizer and seeds which were being provided under the Farmer Input Support Programme.

President Hichilema also disclosed that so far, Government has clinched deals to supply products such as avocado, blue berries and other fruits to markets in the European Union, Middle East, China and South Africa.

On social protection, President Hichilema announced that the number of beneficiaries under the Social Cash Transfer project will reach one million this year.

The Head of State said increasing beneficiaries of the Social Cash Transfer will help vulnerable families survive the hash economic conditions.

ZNBC

24 COMMENTS

  1. All the opposition loud mouths will be reduced to lone steet corner preachers very soon……………

    Numbers don’t lie………….

    Unlike other leaders , HH bit the bullet within weeks of assuming office…….no appeasement or slush funds.

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  2. Increasing the number of social cash transfer is not a solution, it suggests a problem. The so called good inflation numbers, exchange rates, economic growth you’re talking about do not make sense if the number of SCT beneficiaries keep rising. It simply doesn’t add up.

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    • You are beginning with what should be the end state of a process, and saying since we don’t have this now (few or no SCT beneficiaries), its a problem therefore the steps to get us their are junk economics.

      Of course a desirable state is where every citizen is gainfully employed, and requires no support from the state. But we are not there yet. To get there, certain conditions need to be created and exist; like steady growth in the economy; and for that to happen, certain economic indicators need to be brought to with certain optimal values.

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  3. “..President Hichilema disclosed that Government has clinched deals to supply products such as avocado, blue berries and other fruits to markets in the European Union, Middle East,…”
    I have read about this, this is not a government project per se, these are two European companies (Tropical Fruit company Netherlands and Buttermere farms from Italy- owning land in Zambia) that will grow these products in Zambia and export to various countries.
    The President incorrectly (or deliberately) presents this as a government program. The money is not staying in Zambia, but the jobs are.
    Better if ZNS farms produce. Naleka, can’t criticize everything.

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  4. @Spaka. Get a job boy!!! Chaps like me are tired of supporting, via taxes, !d!ots like you. You get government support in terms of accommodation, money, school for your kids, utility bills…and you spend 24/7 online whilst not offering no or extreme useless analysis at best. k@puli

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    • While you are working your ass off for me…………

      I’m on the keyboard with a cold beer………….

      I get paid for what I know without breaking a sweat, while usefully fooools like you break your butt’s to support smart people like me……..

      Bythe way , you are supposed to be at work…….what you doing blogging ??
      I’m due an extra winter allowance…….

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    • No one on earth would employ/consult a piece of $hit like you. Don’t lie to yourself. I’ll tell you now…you are 0.000001% close to my intelligence. So seat down and humble your broke/poor behind. You are not even worthy of trimming my lawn

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  5. HH is right,,,yes his Bank account will see growth of more than 100% together with his Ministers….definitely not for ordinary Zambians

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  6. While you are working your ass off for me…………

    I’m on the keyboard with a cold beer………….

    I get paid for what I know without breaking a sweat, while usefully fooools like you break your butt’s to support smart people like me……..

    Bythe way , you are supposed to be at work…….what you doing blogging ??
    I’m due an extra winter allowance…….

    • No one on earth would employ/consult a piece of $hit like you. Don’t lie to yourself. I’ll tell you now…you are 0.000001% close to my intelligence. So seat down and humble your broke/poor behind. You are not even worthy of trimming my lawn

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    • Hehehehe………..

      You must be a very inadequate man……..

      Just keep working iwe………

      Me I work when I want…….

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  7. @ka Spaka. let’s exchange postcodes right here right now!!!! I can come to yours or you can come and visit me…or we can meet somewhere neutral. I’ll pay seeing as you are clearly struggling with the high cost of living here. You have 30 minutes

  8. I trust what you mr president. And for sure postive change has been seen except by thôse who use deffectiv binoculars. keep it up bally,. We voted wisely.

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