Economic Fundamentals Not Showing Any Positive Economic Outlook For Zambia Going Forward

1

ECONOMIC FUNDAMENTALS NOT SHOWING ANY POSITIVE ECONOMIC OUTLOOK FOR ZAMBIA GOING FORWARD

By Tellah Hazinji

Economist Trevor Hambayi says all economic fundamentals on the domestic front are not speaking to any positive economic outlook going forward.

Mr. Hambayi says one of the indicators is the continued contraction in copper production which has led to a significant decline in Zambia’s export revenue.

He explains to Phoenix News that this is why the country is experiencing a persistent depreciation of the local currency adding that a weak domestic currency makes a nation’s exports less competitive on the global market and at the same time makes imports more expensive.

Mr. Hambayi says this is evident by the high cost of living being driven by a weakening currency because the country is still largely dependent on imports.

PHOENIX NEWS

©️ Phoenix FM Zambia

LEAVE A REPLY

Please enter your comment!
Please enter your name here