World Economy

Zambia Economy Shrinking

Zambia Economy ShrinkingZambia Economy Shrinking

The Civil Society for Poverty Reduction has observed that Zambia’s economy has shrunk and that a year-end growth of about 4.2% is “quite debatable.” CSPR Executive Director Patrick Nshindano says the focus in Zambia, in terms of taxation, has been on the wrong individuals, Mastonline reported. Speaking on Diamond TV’s COSTA program, Nshindano explained that one thing that was evident was that Zambia was too economically stressed. “But one thing that I commend government, especially now, is coming out and admitting that there are challenges and we need to work on these things. Firstly, when you look at the economic side, the economy has not done very well, it has not recovered since we were hit by a number of shocks, starting with external…when we saw our currency devaluating, copper prices going down, productivity half what it used to be, when you compare 2011/2012,” Nshindano noted. So, the economy “has shrunk and now we are talking about year-end growth of about 4.2%, which is also quite debatable–I hope we do meet it. But there is a positive side. The reality is that we are in problems and we need to own up and be able to find solutions.”


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