Economics Association of Zambia, EAZ, President Oswald Mungule has expressed concern over the adverse effects of the ongoing drought on Zambia’s economy.
Early this years, President Hakainde Hichilema declared drought as a National Disaster and Emergency, which saw Finance and National planning Minister presenting a K 41.9 billion supplementary budget to the National Assembly this June, mostly dedicated to government’s response interventions to the drought.
Dr. Mungule in his response to the current drought said natural disasters caused by climate change, particularly drought are a hindrance in economic growth.
He said in a statement issued to RCV News in Lusaka today that there is need for concerted efforts from all economic stakeholders to mitigate the impact of the drought.
Dr. Mungule further said EAZ will host the 2024 Economic Summit on July 25th and 26th at Ciela Resort in Chongwe District, Lusaka, to address the pressing issue.
He said stakeholders will, during the summit, analyze strategies to navigate the disaster and foster economic resilience.
“Th Economic Summit serves as a vital platform for collaboration between the government, industry players, and other stakeholders, demonstrating their commitment to overcoming economic challenges,” said Dr. Mungule.
He said the theme of this year’s summit is “Pioneering Zambia’s Sustainable Economic Transformation through Climate Change Adaptation and Sustainable Financing Mechanisms after Debt Restructuring.”
By Eva Hatontola
