CSPR urges govt to remain focused on economic recovery

CSRP Executive Director Patrick Nshindano

The Civil Society for Poverty Reduction (CSPR) has urged government not to be detracted away from the economic recovery and stabilization plan it has embarked on.

This follows the positive macro-economic performance in the first half of the year which has seen key economic indicators such as the exchange rate and inflation stabilize, coupled by an increase in copper prices on the international market, leading to projected increase in end year economic growth.

CSPR Executive Director Patrick Nshindano however, notes that the country is far from coming out of the current fiscal challenges it is facing, and continues struggling to reduce a fiscal deficit of over nine per cent of GDP and growing public debt of 56 per cent of GDP.

Mr. Nshindano says the elements of the economic stabilization programme dubbed Zambia Plus are not only necessary for economic recovery, but prosperity as well.

He says the nation needs to ensure that the set-out objectives are not only implemented, but also institutionalized as part of the fiscal governance architecture.

Mr. Nshindano notes that Zambia is currently faced with fiscal and balance of payment deficits partly due to fiscal indiscipline and weak institutional systems that would maintain budget credibility.