The Acton Institute for Policy Analysis Centre (AIPAC) has called for collective action to address the Zambia’s economic woes, following the challenges posed by the severe drought that has impacted agriculture and electricity generation.
The call follows a recent report released by the International Monetary Fund (IMF), which showed Zambia’s 2024 GDP growth at 1.2%, down from the 6.3% growth in 2021.
AIPAC Executive Director, Solomon Ngoma, says the Ministry of Finance and National Planning should convene an inclusive indaba, bringing together stakeholders, traditional leaders, and experts to offer solutions to the economy.
“This collaborative platform will facilitate comprehensive analysis of Zambia’s economic situation, identification of practical solutions, and development of targeted policies,” said Mr. Ngoma in a statement issued to RCV News in Lusaka.
He also urged government to focus on fiscal prudence, implementing sustainable fiscal consolidated measures, and reviewing tax policies to alleviate burdens on civil servants.
Mr. Ngoma observed that the K500 salary increment for civil servants, though commendable, is swallowed in high taxes on civil servants.
“Economic diversification, enhancing revenue collection, and improving public financial management are also crucial,” encouraged Mr. Ngoma.
RCV News
