Business

‘Economic recovery plan should be consistent’

TRYNESS TEMBO, Lusaka
LUSAKA-BASED economist Chibamba Kanyama has called for Government consistency in the implementation of the economic recovery plan even in the face of adversity.
Last year, Government launched the economic recovery programme dubbed ‘Zambia Plus’ designed to help Zambia elevate its gross domestic product (GDP) growth, currently standing at three percent, which is below the seven percent levels required to reduce poverty and to drive Zambia’s development.
Mr Kanyama said Government has the right tools to help the country’s economy to recover.
“The only thing it needs to do is to follow its recovery programme,” he said.
He was speaking at a Policy Monitoring and Research Centre (PMRC) forum last week.
“We need focus and discipline. The Minister of Finance must receive full co-operation of his colleagues in Cabinet as well as technocrats, civil society organisations and every citizen in the implementation of the recovery plan.
“I encourage Government to remain consistent on the five pillars [of the recovery plan] even if it became unpopular – let it be, because in the next five to six years Zambians will look back and we would have recovered from the tough times,” he said.
Commenting on Government’s proposal to undertake the International Monetary Fund (IMF) programme, Mr Kanyama said the plan works if it’s done in a timely manner.
“The IMF programme is not new. We have had it since 2003. Nobody knew about it and it only addresses issues of the economy to promote fiscal discipline and balance of payment. We should not be scared. IMF is always in the country every year for three key areas of operation,” he said.

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