Zambia’s Minister of Finance and National Planning, Situmbeko Musokotwane, has stated that the country’s economy is in a much stronger and better position than it was a few years ago under the previous government. In a joint press briefing with Information and Media Minister and Chief Government Spokesperson, Chushi Kasanda, Hon. Musokotwane explained that the current government is working hard to secure debt relief, stabilize the exchange rate of the Kwacha against international currencies, and attract more investment to the country.
Hon. Musokotwane acknowledged that the cost of living is high, but he assured the public that the government is taking measures to reduce it. He emphasized that the opposition was exaggerating the issue of the cost of living for political reasons, and highlighted that the inflation rate has been reduced from 24 percent to below 10 percent under the current government. Additionally, price increases of commodities have been slower and less volatile, indicating a much stronger economy than the previous government.
The Minister noted that the economy would have been worse than it is now if the government had not implemented the measures it is currently undertaking, which revived growth and confidence in the economy. He highlighted that under the previous government, the cost of living was rising faster than it is today.
Hon. Musokotwane also mentioned that progress has been made for the country to start producing fertilizer locally, which will lead to lower prices of the input for enhanced agricultural production. He assured the public that the challenges surrounding KCM and Mopani are being addressed and the two mines will soon be afloat again.
Information and Media Minister and Chief Government Spokesperson, Chushi Kasanda, stated that the government cannot avoid talking about the economic mess left by the previous government because that is how Zambians can see the difference between where they are coming from, where they are, and where they are going under the current government.
“Some people are saying we should stop talking about the previous government, that is not possible because it is the mess they left that we are busy cleaning up for the good of the people of Zambia. So, the comparison with the past cannot be avoided, that’s how the people of Zambia will appreciate where we are coming from and where we are going, as a country, under this Government,” Hon. Kasanda said.
The public and media relations unit of the Ministry of Information and Media issued the statement on February 15th, 2023.