ECONOMY ON TRACK, SAYS KATELE

Tue, 29 Aug 2017 09:35:46 +0000

By Simon Muntemba

THE rating of Zambia’s economy to stable by Standards and Poor (S&P) Global is due to the sound policies that the government has implemented, former Finance Minister Katele Kalumba has said.

Dr. Kalumba who served as a finance Minister in the MMD regime under late President Frederick Chiluba said in as far as economic management was concerned, it could not be denied that Government had performed to the highest expectations.

Dr. Kalumba who is also headman Natende in Senior Chief Puta’s chiefdom attributed the resilience to sound fiscal policies as some of the measures that cushioned the Zambian economy.

He said that the Kwacha has stabilised to the extent where confidence in the currency has been restored, adding that the government has put into gear far-reaching investment incentives that have increased the country’s profile as an investment destination.

Dr Kalumba said that it was due to this commendable performance by Government that even Standards and Poor Global has acknowledged and rated Zambia’s economy stable.

Dr Kalumba said that all the positive showings that the economy has registered so far, aside from the government’s creation of a conducive atmosphere, has been through the participation and support of all players in the economy.

“We have seen not only seen the stability in the currency but at the same time, if you look at the various sectors of the economy, there also has been increased private participation due to reduced policy rate.

“The reason is quite understandable, it is because the government has done a fantastic job by implementing the sound policies that has attracted investors,” he said.

Dr. Kalumba said that the upgrading of Zambia from negative to positive-with-a-stable-outlook of the economy by Standards and Poor (S&P) Global was an endorsement of the good leadership.

He also said that the result from the assessment conducted by S&P Global was a welcome incentive for investors as they should remain confident, assured that Zambia was on track with economic stabilisation and growth.