Tue, 21 Mar 2017 06:15:34 +0000
By SANDRA MACHIMA
GOVERNMENT has been urged to effectively implement the Economic Recovery Plan if the projected economic growth targets were to be realized, Jesuit Centre for Theological Reflection (JCTR) media information officer Tendai Posiana has charged.
Ms Posiana noted that the expected economic growth had a potential to further reduce the cost of living and improve people’s wellbeing in Zambia.
Ms Posiana noted that implementation of the economic recovery plan does not only have the potential of restoring economic growth but enable the government to access the International Monetary Fund (IMF) loan facility for balance of payment support.
According to JCTR basic needs basket the cost of living for the past three months had been reducing, due to favourable economy.
Ms Posiana said the only pillar that the Zambian government had total control over was the Economic Recovery Plan which was built on restoring budget credibility, enhancing domestic resource mobilization and refocusing public spending, improving economic and fiscal governance and scaling up social protection.
JCTR therefore urged the Government to effectively implement the Economic Recovery Plan if the projected economic growth targets were to be realized.
She said sustained economic growth would create jobs and generate incomes for people to afford the ever increasing cost of living.
“Most of the targets which spelt out in the economic recovery plan are not new and therefore will require government discipline and dedication to be implemented,” she said.
The realization of projected economic growth targets largely depends on having the three assumptions hold of which Government only has total control over one, thus energy deficit that has to be fully addressed to restore full productive capacity of our economy and increase production.
JCTR noted that already the country had seen reduction in load shedding due to increased water levels in water bodies where electricity was produced.
Ms Posiana further said the rebound of commodity prices on the international market was also a welcome development as it had a huge bearing on the realization of the set economic growth targets and subsequent reduced cost of living.
