Business

Austerity measures good for Kwacha

TRYNESS TEMBO, Lusaka
GOVERNMENT’S sustainability of austerity measures could help stabilise the Kwacha against major convertible currencies, particularly the United States (US) dollar in 2019.
The Kwacha is in the range of K11.80 and K12.00 against the US dollar.
Currently, Government is rolling out new austerity measures to deal with the country’s rising debt, which is standing at US$9 billion and US$4.6 billion for external and internal, respectively.
Early this year, President Edgar Lungu ordered spending cuts in several sectors, including the freezing of new road projects and, where possible, deferring other construction contracts as part of the austerity measures.http://epaper.daily-mail.co.zm/

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