Q FM Africa's Modern Radio
The Economics Association of Zambia (EAZ) says it foresees government debt which has impacted negatively on the economy continuing to be the major risk in 2019.
EAZ president Lubinda Haabazoka says there will be need for government to come up with a plan of how to amortize what it owes in public debt.
He says the EAZ is particularly advising government to as soon as possible, consolidate and restructure debt obtained from China in way that monthly principle and interest payment is reduced.
Mr Haabazoka has told QTV News by telephone that this is what his association thinks will in turn reduce pressure on Zambia’s foreign reserves.
And Dr. Haabazoka however, states that the EAZ holds the view that the Zambian economy has performed better than expected in the ending year 2018.
He states that his association expected pressure from public debt servicing to impact the Country’s economy.
Dr. Haabazoka says the EAZ has observed that much as the Kwacha shade off some weight in the ending year, the Bank of Zambia (BoZ) has nevertheless managed to maintain some stability in the currency.
He notes that performance of the 2018 National Budget, as evidenced by how government has been able to pay salaries for civil servants, is another indicator of how the economy has performed in 2018.