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‘Let’s work together’

MINISTER of Finance Alexander Chikwanda (middle), Konkola Copper Mine chief executive officer Steven Din (right) listening to head of business unity Enock Mponda during a tour of Nchanga smelter recently. PICTURE: NKWETO MFULA

MINISTER of Finance Alexander Chikwanda says the current gross domestic product (GDP) growth rate of six percent is not enough to wipe out poverty in the country, hence the need for stakeholders to work together.
Mr Chikwanda said Zambia’s GDP growth is one of the highest in the world. However, the current six percent growth rate falls short in the fight against poverty.
“We are among the highest in the world in terms of growth rate but, six to seven percent is not enough [to eradicate poverty]. We need GDP growth in excess of 10 percent in order for us to eradicate poverty.
“The government has always maintained an open door policy which is why there has been very high levels of foreign direct investment (FDI) which has sustained reasonable growth rates in the past three years averaging six percent,” he said.
Mr Chikwanda said this on Thursday during the commissioning of a semi-detached housing block for Zambia Revenue Authority (ZRA) officers at Mokambo border post in Mufulira on Thursday.
Mr Chikwanda said there is need to have more Zambians participating in the economy to strengthen the economy.
“We need more Zambians to participate in the economy. It would be best for our country if, foreign investors used local investors as a channel for participating in our economy [and] as long as there is very little participation of Zambian in our economy it will forever remain weak,” he said.

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