GDP growth rate of 4% is too minuscule for Zambia – Milupi

Opposition ADD president Charles Milupi says a GDP growth rate of 4 percent is too minuscule for a Country like Zambia that has vast resources.

In its 2019-2021 Medium Term Expenditure Framework (MTEF) Green paper, government has undertaken to attain a GDP growth rate of 4 percent and sustain inflation within the range of 6 to 8 percent.

But Mr. Milupi thinks that such figures are only an indication that there is already an anomaly as they imply that there will be no growth at all in the Zambian economy during this period.

In an interview with QTV News Mr. Milupi has argued that having a growth rate of 4 percent and inflation of 6 percent against a population growth of 3 percent entails that an economy is slowing down.

Mr. Milupi says this also means that the GDP growth rate of 4 percent which government intends to attain in the 2019-2021 MTEF will not trickle down to the lowest levels of the Zambian population.

He states that what the 2019-2021 MTEF figures are in this case indicating is that poverty in Zambia will get worse because the inability for people to look after themselves at household level will increase.

Mr. Milupi says Zambia therefore needs a very serious  economic management team in order for it to aim a much higher GDP growth rate and use its resources more effectively.

He says a Country like Zambia that has vast resources should aim for a GDP growth rate of double digit.

And Mr. Milupi says he expect President Edgar Lungu to be honest with the Zambian people over the Country’s debt position as he opens Parliament this Friday.

Mr. Milupi thinks that this is what will enable President Lungu and his government gain the sympathy and support of people in regenerating the Country’s economy.