2024 National Budget Identifies The Right Sickness But Gives Expired Economic Medication- Jackson Silavwe

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2024 NATIONAL BUDGET IDENTIFIES THE RIGHT SICKNESS BUT GIVES EXPIRED ECONOMIC MEDICATION

24th January, 2024

On 22nd and 23rd November, 2023 we released 2 press statements on the 2024 national budget respectively.

In part 1 we highlighted the ‘good and the commendable’ whilst in part 2 we brought out the ‘familiar and the terrible’ in the 2024 national budget.

In this final analysis, after a careful study of the 2024 national budget we give our final conclusion as follows;

1. The economic policies and intervention measures falls short of “unlocking economic potential” as themed.

2. The cost of living will go higher in 2024. Price of mealie meal, cooking oil, rentals and other essentials will continue to increase.

3. The cost of doing business for local small and medium businesses will continue to go up in 2024.

4. Small and medium businesses will continue to downsize their operations offloading more job seekers on the market.

5. Flow of Kwacha will remain scarce in the economy especially in the informal sector in 2024.

6. Local small and medium businesses will continue to record low sales in 2024.

7. The kwacha will continue to depreciate against major foreign currencies like the US Dollar in 2024.

8. The economy will record some form of stability in the 2nd and 3rd Quarter after the domestic debt is dismantled in 2024.

9. Mining sectors contribution to the local economy will still remain elusive in the year 2024.

Economic transformation is not possible under the the 2024 national budget but a small economic positive difference is possible nonetheless.

The economy will remain brutal to Zambians and local businesses but friendly to foreigners and foreign owned multi-national companies.

The 2024 budget is a good case of identifying the right sickness but applying the wrong medication.

Silavwe Jackson
President
GPZ.

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