Q FM Africa's Modern Radio
CSPR Executive Director Patrick Nshindano
The Civil Society for Poverty Reduction (CSPR) has called on government and implementing agencies to ensure that the austerity measures announced by President Lungu on Thursday are actualized.
And the organization has called on government to contain foreign borrowing to reduce on the cost of repayments while also reducing domestic borrowing to free some funds for private sector lending and induce the lowering of interest rates.
CSPR Executive Director Patrick Nshindano tells QFM News in a statement that government should walk the talk and that the pronouncement should not become another political show.
Mr. Nshindano has also welcomed the measures announced by President Lungu on Thursday to cut on non-core government.
He says the current economic situation is of great concern to every Zambian as the downturn affects every household but especially those already vulnerable.
Mr. Nshindano states that the recent presented 2016 budget, being the primary statement for economic and social development, has clearly demonstrated the dire situation in which the country now finds itself.
He says it is the considered view of CSPR that with prudent macroeconomic management, a reining in of consumptive expenditure and strong political will, a considerable turnaround is possible in the short to medium term with profound gains for the long term.
Mr. Nshindano states the fiscal measure will complement the effectiveness of monetary policy to cushion the erosion of the Kwacha’s value.