Q FM Africa's Modern Radio
Lubinda Haabazoka
Economist Lubinda Haabazoka has attributed the Kwacha’s inability to appreciate despite a rise in copper prices on the international market to increasing government debt.
Dr. Haabazoka says servicing government debt is demanding a huge chunk of foreign exchange from the market.
In an interview with QTV News by telephone, Dr. Haabazoka says with the rising copper prices on the international market the Kwacha would have naturally strengthened.
He however, notes that the 2018 national budget has performed better than expected compared to the past four years.
Mr Haabazoka says this performance can be mainly attributed to availability of electricity which has increased productivity in the real sectors of the economy, and the rising metal prices.
He projects that government expenditure for the rest of the year will be within what was budgeted for especially given the recently announced austerity measures.