By Ellen Hambuba
President HAKAINDE HICHILEMA has thanked Zambians for their patience, resilience and support in the country’s economic recovery programme.
President HICHILEMA says Zambia has continued to make economic progress, citing stability in the kwacha, a drop in inflation, and the successful conclusion of the IMF’s Extended Credit Facility Programme.
He says for the first time since August 2023, inflation has eased into single digit, falling to 9.4 percent in January from 11.2 percent last month.
President HICHILEMA says these results are a direct outcome of prudent fiscal management and structural reforms, now recognised by the IMF following the successful completion of the programme.
He has also thanked the IMF for its partnership adding that he looks forward to building on the foundations now in place.
President HICHILEMA says the IMF confirms Zambia’s positive trajectory, with real GDP growth projected at 5.8 percent this year.
He says public debt has fallen from 112 percent of GDP in 2021 to a projected 78 percent this year, while government has increased investment in social programmes.
President HICHILEMA has urged Zambians to continue working with him.
This is according to a statement released to ZNBC News by State House Chief Communications Specialist, CLAYSON HAMASAKA.
