IT IS TIME TO GROW OUR ECONOMY-MUSOKOTWANE
March 26th, 2024
LUSAKA – Finance and National Planning Minister Situmbeko Musokotwane says Government will use debt structuring opportunities to grow the economy.
Speaking when he featured on the Hot FM breakfast show, Dr. Musokotwane said that Government will now channel its energy towards manufacturing and mining in its quest to generate revenue for national economic development.
He said Government is committed to carrying out reforms that encourage economic growth and is fully aware of what needs to be done in order to drive the country’s economic agenda.
“This restructuring has given us space to produce more; one cannot become rich by writing off debt you are owing people, but through hard work so that you accumulate your own money,” he said.
He added that economic growth will spur opportunities that are of mutual benefit to the people of Zambia.
Dr.Musokotwane said the government wants to see increased investment in the country, as this will help to create much-needed jobs and reduce poverty.
The Minister expressed optimism that restructuring will attract foreign direct investment (FDI) because investors will be assured of the safety of their resources.
He also said debt restructuring will enable Zambia to have enough liquidity now to support schools, CDF, and the health sector, which the country couldn’t have managed to sustain before debt restructuring.
Dr. Musokotwane has also revealed that the new dawn government has taken a different route of concessional borrowing, which gives more room for repayment at a very low interest rate.
He added that most of the money the government has been using was given on grant contrary to public sentiments.
The Zambian Government yesterday reached a debt restructuring agreement of US$ 3.5 billion with private bondholders which will see the country’s debt repayment period being increased resulting into enough money being directed towards social sector spending.
(C) UPND MEDIA TEAM
Nonsense ba mambala aba.
3 years into their term, this is when they say the economy can start to grow? Did the conman at anytime tell us the economy was not growing ?
Pure nonsense.
Only those with cow brains can be fooled by these conmen.
Vote wisely in 2026.
Yes sir. We will vote wisely to ensure power does not go back to the panga people who will bring back Bill 10 in another form to ensure they rule the Museveni way
In the history of this great nation, we have had challenges which the office of the ministry of finance have had to deal with, but the problems created by PF and dealt with by this finance minister have been unsamountable
This man has had sleepless nights which could have caused others to just give up. He has paid physically and emotionally to see this through to this stage. Those who understand the intricacies of this burden know that Kebby has to be saluted, it is time sent him to some tourist destination so that he rewinds. This man has suffered on our behalf