GOVERNMENT is confident that the country’s economy will grow by more than five percent next year after the budget cycle is changed.
Minister of Commerce Trade and Industry, Felix Mutati said this in Ndola yesterday when touring some stands at the Zambia International Trade Fair (ZITF).
“We hope that next year with the change in the budget cycle, there will be significant change in Government delivery and growth,” Mr Mutati said.
He was concerned that Government last year returned K900 million to the treasury because the 10-month implementation period for its programmes and projects is inadequate.
Mr Mutati said with the change in the budget cycle, the implementation period for Government projects and programmes will be extended to 12 months.
He said with the change in the budget cycle, the country’s economy will grow by more than 5 percent next year because Government will have a longer implementation period for its projects and programmes.
Mr Mutati also said the Zambia International Trade Fair (ZITF) is a key factor in bringing together various players in the business sector so that they can begin transacting.
He was also happy that the number of exhibitors at the ZITF has increased despite the effects of the global financial crisis.
Meanwhile, the Communications Authority (CA) says Zain Zambia has resolved a network problem that its subscribers have recently been experiencing.
This follows a 48-hour ultimatum the CA gave Zain Zambia to resolve the network problems and that failure to do so would attract penalties.
CA director for international and public relations, Lotty Kakubo said this in a statement issued at the Zambia International Trade Fair (ZITF) in Ndola yesterday.
[Zambia Daily Mail]