Sunday, May 26, 2024

Economist Optimistic as Zambia’s Economy Navigates Healing Stage

Share

In a recent interview with ZNBC News, Amos Chibinga, a prominent economist based in Livingstone, has shed light on Zambia’s economic trajectory, suggesting that the nation is now entering a healing phase following the challenges of over-borrowing and the disruptive impacts of the COVID-19 pandemic.

Chibinga emphasized that prior to the assumption of office by the New Dawn government, Zambia’s economy had been significantly hampered by debt burdens and the widespread effects of the global health crisis. However, he noted several positive indicators that signify a shift towards stability and recovery.

One of the key factors highlighted by Chibinga is the observed steadiness in real Gross Domestic Product (GDP) growth, coupled with what he perceives as prudent management of public resources by the current administration. Additionally, the restoration of social order contributes to a conducive environment for economic growth, painting a promising picture for Zambia’s future.

Acknowledging the current high cost of living, Chibinga remained optimistic, asserting that there is ample room for Zambians to anticipate an improved economic landscape. Nevertheless, he cautioned that as an emerging economy, Zambia remains vulnerable to external shocks, particularly those stemming from global phenomena such as climate change.

Despite these potential challenges, Chibinga expressed confidence in Zambia’s ability to sustain positive economic growth, citing revived investor confidence in the mining sector spurred by the fiscal policies implemented by the UPND-led government. He highlighted the country’s improving credit rating as a significant factor expected to attract cash injections in the form of grants and bilateral deals in the near future.

Furthermore, Chibinga commended the government’s decision to remove excise duty on maize imports, describing it as a commendable short to mid-term solution that is poised to alleviate the cost burden associated with staple food items like mealie meal.

10 COMMENTS

  1. Zambian economists like making empty statements. The IMF has given a honest view of Zambia’s economy with specific figures. From a projected 5.7% growth downgraded to 2.4% with some reasons being non taxation of the mines, heightened corruption, wastefulness and effects of the partial drought as the causes of the underperformance. What’s this malaca talking about?

    14
    4
    • Dont you also make empty statements.Give the source of your IMF report so we can access it as well.IMF can give a lot of reports on various aspects of Zambian economy

      7
      6
    • The common mistake is to think of the Zambian economy as if it’s a developed market economy where you’re just engaged in cruise control, that is, stepping on the gas occasionally, braking gently, indicate to turn left or right etc. This is a mistake because it’s not a built economy. We still have a lot of building to do in Zambia in order to have a decent economy which can respond to signalling from the central bank’s monetary policy. In a house that is still under construction, there are no lights to turn on because they’re yet to be installed. The same for our economy. Much of the policy signalling is not that helpful.

  2. These fake praise singer economists are part of the problem..they just open their mouths to appease fellow gullible praise singers….if you’re doing business in Zambia thats when you will realize that things are messed up…..the problem is we’re dealing with a demagogue President who is fooling Zambians every single day …he brought in fake Arabic Mining investors and made backroom deals for himself and his minions….ALL THE MINES SHOULD BE ZAMBIAN OWNED 100% AND WE SHOULD ROOT OUT CORRUPTION AND THEFT OF PUBLIC RESOURCES…..thats when we will see our economy start to improve

    2
    1
  3. There is NO HEALING STAGE AS ZESCO is about to bring this country to its knees
    This has to be tackled now by the president and should not listen to the lies being pushed out by them
    Look at the dam leveles 13% !!! so we can look forward to more issues next year

  4. he is an economist hence his free to come up with his own analysis, if you feel he can do better, don’t oppose, rather come up with a better one you feel can be effective. on the other hand, I personally feel not taxing the mines worse off at this point where majority of the shares now is with foreign firms is a disadvantage to us .. look at our competitors (congo), it has unstable environment for investors, but they are still trading in mines with a good number of investors without a break in tax, now what is he logic with the government not taxing mines now?

    3
    3
  5. Everyone now is either an economist or a energy expert. Even the local vendor will tell you when tomato price will go up and when it will go down. Same with illegal fuel dealers selling fuel.

  6. It doesnt need an energy expert to fore see the future on the energy crisis
    common sense should have told them with Kariba at 20% last year and before some load shedding of say 2 hours would have saved us from this 8 and later 10 or 12 hrs
    Its called prudent management !!! which Zesco leaders are lacking and should be fired
    If HH doesn’t address the nation on this and take control he will get reprecussions

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading