ZAMBIA’S ECONOMY ROBUST - MWANAKATWE
ZAMBIA’s economy is robust and one of the best in Sub Sahara Africa with a single digit inflation heading in the right direction, says Finance Minister Margret Mwanakatwe.
Ms Mwanakatwe said Government was watching over its debt and that it would not fail to pay external obligations such as the Eurobond when it was due. She said government under the direction of President Edgar Lungu was spending prudently and looking for cheaper debt by ensuring fiscal consolidation and that the economy continued to grow. The minister said this in Parliament yesterday in winding up the debate on the Report of the Budget Committee on the Review of the First Quarter Performance of the 2018 Budget for Selected Ministries and Provinces, for the Second Session of the 12th National Assembly. “Madam Speaker, let me start by saying that the economy is robust and in safe hands. I can confidently say it is one of the best in the Sub Saharan Africa,” she said. The Committee expressed concern that the Integrated Financial Management Information System (IFMIS) was not functional through most of the first quarter of 2018. In response Ms Mwanakatwe assured the House that the system has now a back up and that the likelihood of it crashing or data being lost was farfetched. Earlier an emotionally charged Patriotic Front (PF) Roan lawmaker, Chishimba Kambwili was seen asking Housing and Infrastructure Roland Chitotela to resign whom he accused of constructing asphalt roads which would only last four years. Mr Kambwili mockingly congratulated the Government for having achieved 23 percent out of the 25 percent target for the first quarter budget performance. Mr Chitotela said government had a team which understands economics and meant well for citizens unlike others who were part of the team but left and had a peculiar and special interest to serve their own selfish interests. And Ms Mwanakatwe said the budget was on the right trajectory and urged members to go back and read the report and desist from misleading the masses. Meanwhile, Unites of America, Ambassador to Zambia Daniel Foote says his country partners with Zambia on health issues to ensure the right to life is protected. Amb Foote said to mark to mark the 242nd anniversary of the founding of the Unites of America. And Minister of Finance Margaret Mwanakatwe has said Zambia’s close bilateral relation with the United States of America is based on mutual values and shared interest. “This is why we partner with Zambia on health issues; the U.S. Declaration of Independence mentions the right to life first, and we want to help Zambia protect that same right for its citizens,” Mr. Foote said. The Ambassador disclosed that through the United States funded HIV/AIDS programmes, over 1 million lives of Zambian’s have been saved over the past 15 years. “We also work closely with the Zambian military to enhance its leadership in regional peacekeeping and stability, and provide significant assistance for Zambia to remain a model of welcome to refugees, “said Ambassador Foote. Mr. Foote further stated that good governance will determine Zambia’s development trajectory, and the long-term impact of the two country’s mutual investments in health, education, and economic growth. He pledged his country’s support to Zambia to foster inclusive economic development for the current and future generations. Mr. Foote said this at his residence in Lusaka during the commemoration of the 242nd anniversary of the founding of the Unites of America.