Wednesday, April 24, 2024

Zambia’s Economy is in much Stronger and Better Position than it was under PF

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Zambia’s Minister of Finance and National Planning, Situmbeko Musokotwane, has stated that the country’s economy is in a much stronger and better position than it was a few years ago under the previous government. In a joint press briefing with Information and Media Minister and Chief Government Spokesperson, Chushi Kasanda, Hon. Musokotwane explained that the current government is working hard to secure debt relief, stabilize the exchange rate of the Kwacha against international currencies, and attract more investment to the country.

Hon. Musokotwane acknowledged that the cost of living is high, but he assured the public that the government is taking measures to reduce it. He emphasized that the opposition was exaggerating the issue of the cost of living for political reasons, and highlighted that the inflation rate has been reduced from 24 percent to below 10 percent under the current government. Additionally, price increases of commodities have been slower and less volatile, indicating a much stronger economy than the previous government.

The Minister noted that the economy would have been worse than it is now if the government had not implemented the measures it is currently undertaking, which revived growth and confidence in the economy. He highlighted that under the previous government, the cost of living was rising faster than it is today.

Hon. Musokotwane also mentioned that progress has been made for the country to start producing fertilizer locally, which will lead to lower prices of the input for enhanced agricultural production. He assured the public that the challenges surrounding KCM and Mopani are being addressed and the two mines will soon be afloat again.

Information and Media Minister and Chief Government Spokesperson, Chushi Kasanda, stated that the government cannot avoid talking about the economic mess left by the previous government because that is how Zambians can see the difference between where they are coming from, where they are, and where they are going under the current government.

“Some people are saying we should stop talking about the previous government, that is not possible because it is the mess they left that we are busy cleaning up for the good of the people of Zambia. So, the comparison with the past cannot be avoided, that’s how the people of Zambia will appreciate where we are coming from and where we are going, as a country, under this Government,” Hon. Kasanda said.

The public and media relations unit of the Ministry of Information and Media issued the statement on February 15th, 2023.

32 COMMENTS

  1. Blame game all the time. As usual upnd justifying their failures by comparing with PF. When will you stop talking about PF

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  2. Yes you should stop talking about the previous administration and do what you promised. Ati so that people can see where we’re coming from and where we are… yes we can see that were in a frying pan and now we have jumped into the fire.
    Just because your financial status has improved doesn’t mean it’s rosy for the rest of the citizenry.

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  3. Shut up you old tribalist. Just give the people what your f00Iish president promised them during campaigns. You are a possessed fellow

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  4. Those complaining are used of free cash handouts and empowerment slush funds and brown envelopes circulating in PF circles…………..

    Ordinary Zambians saw nothing……..only caders flushing bundles of money…………

    Now we have free education, meal allowance for students, increased CDF…….

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  5. Ms Chushi Kasanda is a young woman and she needs to take care of her body. Hit the gymn girl! We want you around for another 70 years!

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  6. Dr. Musokotwane is practicing confusing economics. If the inflation rate has reduced from double digits under PF to single digit under upnd, why have prices of essential commodities and fuel skyrocketed?
    Perhaps he can share with us which commodities are being included when determining the inflation rate, otherwise it’s not adding up.

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    • Economic impact cannot be measured by propaganda… propaganda is exactly what it is… it’s propaganda..it won’t translate into reality.

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  7. Does the MOF think all those raising alarm on the alarming cost of living are opposition party members? Your exit in 2026 will be worse than the PF’s. You have plugged your ears with wax and unable to hear the cry of the poorest of the poor in our midst. The Lord our God takes great exception when the neglect of poor reaches Him. Nipano Tuli!!

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  8. Dollar please let the Kwacha gain against the USD and all will be well. The fuel prices will reduce, costs of transportation and household items cost will also reduce. Solve the USD and everything will be ok, we need Kwacha at no less than K16 to K17 per USD. Rest assured the key to stabilizing the eco only is fix the exchange rate. It brings confidence in the Zambian economy.

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  9. Getting to K16 and K17 to the USD I believe is something within the means of Hon Musokutwane and the BOZ team. It is not an impossible task. Guys please get working.

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  10. stop complaning and do what you promised the people of zambia.Why are you taking us a back. we are fade up of stories we want action now.Stop mentioning PF and just deliver,the cost of mealie meal is very high,cost of doing business is very bad,fuel is very high,electricity zesco is stories always why. Be serious and stop talking we have heard alot from you it is time now to deliver please.Show your capacity..

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  11. that is normal with the UPND always want to blame to distract peoples minds from what they promised the zambians, reality is this are not okay on the ground tell the people on what the government is doing to easy up things in zambia, the IMF bell out its not a 1+1 thing like it will happen over NO, tell us what you are doing pamene tiyembekeza Bell out.

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  12. The moment you say PF would have done worse is the moment you lost the argument. Deflection is the first tactic of someone unable to defend their side’s record.

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  13. Musokotwane and Kalyalya have bn playing with figures here. inflation figures are fake that is why prices are not coming down. You do not reduce inflation by sweeping all the money from the economy and refusing to pay suppliers. That is bush village economics. You have actually grounded the economy. Your fuel prices hitting K30/liter and yo think prices will stabilise with your fake inflation? The dollar is now finding its true value…and K24/DOLLAR IS REALL. And that you expect the prices of imported goods to go down? Look Bwana, we are now buying bread at K20 eggs at K60/tray. Sugar at K50……… Where do you live??? In Zambia????

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  14. Ati ECL had no vision…..kikikki. Who started the ZNS figayo u are usiing to try to reduce mealie meal? You shamelessly go to commision projects by the Vision less EDGAR LUNGU????? insoni EBUNTU!!!

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  15. Strong economies boast of increase in consumer spending or an increase in products produced; our inflation has consumers with less disposable income to spend on goods because the cost of living is getting higher and higher. Consumer borrowing has gone high high. Retail sales are dwindling every month. Rentals are unsustainable. Copper is doing a disservice to the country without control thereof and you have the entire MMD Musokotwane suspended on the IMF loan whisker with all eyes hopeful on debt relief. May we not be forgiven for our debt. The move can make us extremely lazy. No home grown solutions. Kwacha is at almost K20 and meanwhile Russia and Ukraine are still bombarding each other. Dream on!

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  16. The lady to the left of Chushi really looks disgusted and am sure couldn’t wait to get out of there. Meanwhile Situmbeko thinks Zambians are !diots or he has started losing his marbles

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  17. Cooking oil now K250 for 5lts, mealie meal at K190, fuel inching towards K30 per litre , dollar almost K20, electricity to be increased but economy is much better than two years ago.

  18. These guys are shadows of themselves. They will force everyone to see only what is a figment of their mind. This is the only country in the world where the currency is falling down the cliff and it is said to be stronger than the one in the PF. Awe mwandi these people are so obsessed with PF so much so that they seem to have sleepless nights.

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  19. As can be seen from the comments. the majority of the Zambian population are ignorant.
    Off course it would have worst under PF, the majaority of school children would be on the streets, medical services would be pitiful and most of the population would be destitute and starving.

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    • So you are more intelligent than all of us…. you are supposing that things would have been worse if PF were still in power… well they’re not in power so we can’t suppose anything.

  20. This new doom government is sickening o the core, How can economy improve on IMF loans? Lower inflation that doesnt feel like lower inflation is nothing but hot air. We need structural changes in the economy like interest rates coming down. Period.

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