Govt vows to keep inflation low

PHILIP CHISALU Lusaka MINISTER of Finance and National Planning Situmbeko Musokotwane has stated that the Government will rigorously prioritise safeguarding the economic stability achieved over the past five years to prevent a resurgence of high inflation and escalating living…

PHILIP CHISALU

Lusaka

MINISTER of Finance and National Planning Situmbeko Musokotwane has stated that the Government will rigorously prioritise safeguarding the economic stability achieved over the past five years to prevent a resurgence of high inflation and escalating living costs.

Speaking during an appearance on ZNBC’s Sunday Interview programme, Dr Musokotwane emphasised that maintaining price stability remains paramount for protecting household purchasing power.

“Remember, this is the beginning of the problem when people say the cost of living is high. If the inflation rate, the change in prices, takes place every year at a fast pace, eventually the cost of living goes high. That has been stabilised and we want to keep it that way,” he explained.

However, the minister acknowledged that macroeconomic stability alone does not fully satisfy public expectations for immediate relief, promising that the upcoming 2027 national budget will be distinctly growth-oriented.

He noted that the administration’s strategic response will centre on accelerated job creation, the opening of new mines, driving widespread participation in agriculture, and stimulating broader business opportunities across the country.

Dr Musokotwane highlighted that these targeted efforts are directly anchored by President Hakainde Hichilema’s overarching national vision known as the Grow Zambia Agenda.

Urging active citizen participation, he summarised the core economic directive with a clear call to action: “The priority is produce, produce, produce and export, export and export.”

To back these ambitions, he stated that the Government is restructuring the national framework so that state responsibilities actively facilitate private sector growth while continuing to heavily leverage public private partnerships (PPPs).

Pointing to visible economic indicators such as increased infrastructure-driven job creation, higher vehicle imports and booming retail food chains, Dr Musokotwane maintained that recent gross domestic product (GDP) growth is tangibly benefiting ordinary citizens.

He also noted that improved tax compliance and a broadened tax base are bolstering institutional operations, particularly among local councils.

Dr Musokotwane assured foreign and domestic investors that the Government will maintain a predictable, stable regulatory environment to ensure that all investment pledges are successfully actualised on the ground. https://enews.daily-mail.co.zm/welcome/home