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President Lungu Speaks Of A Brighter 2020!

President Edgar Lungu says the rate of inflation will be maintained within the range of six to eight percent in 2020.

President Lungu said the economic prospects for 2020 are positive. He said projections include a real growth rate of three per cent and inflation to be maintained within the range of six to eight per cent.

President Lungu said this during the Annual Greetings of the Diplomatic Corps at State House on Thursday.

“In addition, the fiscal deficit is expected to reduce to 5.5% and domestic revenue mobilization is projected to increase to at least 22% of Gross Domestic Product (GDP). Fiscal consolidation will continue to be a priority to ensure sustainable and inclusive growth,” President Lungu said.

“Furthermore, I wish to announce that this year, the Zambian Government will continue to anchor our efforts on the five development strategic areas of the Seventh National Development Plan. These are economic diversification and job creation; poverty and vulnerability reduction; enhanced human development improvement; development inequalities reduction, and creating a conducive governance environment for a diversified economy. I therefore appeal to all of you, for your continued unwavering support,” he stated.

He said there is potential for improved partnerships with other governments, given Zambia’s focus on economic diversification as well as many investment opportunities Zambia offers.

He emphasized that Zambia continues to offer a favourable business environment based on it’s strategic location in the region.

“However, like many other countries in the Southern African Region and beyond, the Zambian economy during the rest of 2019 was negatively affected by various issues notably, adverse climate conditions caused by poor rainfall during the 2018/2019 farming season,” President Lungu said.

“This, in turn, negatively affected agricultural production, and electricity generation which led to spill-over effects in other sectors. Economic growth was also affected by a decline in copper output, coupled with lower copper prices caused by a reduction in global demand,” he observed.

And in a vote of thanks, Dean of the Diplomatic Corps Jeronimo Chivavi, who is also Mozambique High Commissioner to Zambia, observed the need for greater collaboration in addressing the effects of climate change.

Copyright © 2020 ZR.

 

16 Comments

  1. Jungle unchained

    Ok thanks, from been a lawyer to an economist.hope this is not a dream without vision.

  2. Nelson

    every lead their should been a economist and vision

    • Jungle unchained

      Nelson…. your grama is very bad,try night school please.

  3. Skills Shachitoba

    Let the 2020 vision be fully explained so that the citizens and the government have a common objectives to look at.

  4. Skills Shachitoba

    Let the 2030 vision be fully explained so that the citizens and the government have a common objectives to look at.

  5. Jj

    What is bill #10i don’t know what uthis means

  6. Jj

    Thanks to our beloved president ecl

  7. molin mukiya

    the onry problem u are not reducing the price of kaunga giving us 5kg as relief food makes life hard things are just hard in zambia anyway thanx ba president

  8. Judge

    U have just failed sir, we need serious change now

  9. STEVEN ILUNGA NGOYI

    GOOD SPIRIT MR PRESIDENT FOR UPDATING THE PROGRESS AND DEVELOPMENTAL EXPECTATIONS OF THE ECONOMY WE SALUTE U SIR

  10. Gibson Mutale

    Comment
    thanks our president!! & u are winning again in 2021, gud luck sir..

  11. See Mind

    Ba President if you want go to win next GE 2021, Alert common man are suffering cause of cost of living is too high domestic daily used. If not alert you will loose 2021. Kwacha no power, everthing very expensive shame ba President !!!

    • Bright

      See Mind……instead of shaming the President, you should also be ashamed of your vocabulary…..it is so bad. Consider night school. Never cease to learn!

  12. Angoni

    These are the messages that Zambians needs the messages of hope. We have alot of doomsayers in the opposition who only think things will better when they are in Government as if they will be giving as things for free and the unfortunate thing is that their members have been blinded to believe such rubbish. Please Mr President We need more of such hope giving messages Keep it up.

  13. SANGWAPO

    aloo mr lungu even 2019 was brighter but you ruined it because of ur poor policies and poor kind of leadership you are just lucky zambians are hard workers if it was countries like south africa sembe ni ma riots everywhere imagine mocking us that the country has enough food in stocks and yet geting a bag of bunga at k165 and being given tuma 12kg to share as relief food you are lucky zambians are full of peace

  14. Samuel

    Mr President please try to make kwacha equal to dollar

Comments are closed.