Economist Says Sticking To Austerity Measures Is Only Way To Cushion The Impact Of The High Cost Of Living

By Chileshe Mwango/Penjani Banda


Economist Chibamba Kanyama has advised government to stick to the early announced austerity measures if it is to cushion the impact of the high cost of living being experienced by majority of Zambians.

Mr. Kanyama is urging government to focus on reducing unnecessary expenditure, sharpen and improve Zambia’s procurement system as this will not only help citizens but also help to restore Zambia’s financial credibility and ensure a healthy fiscal position.

He has stressed the importance for government not to spend beyond its means and that if the vulnerable are to be helped, government must concentrate on measures that will actually benefit the general public.

Mr Kanyama spoke to Phoenix News following President Edgar Lungu’s recent 20% salary reduction and directive to all highly paid public officers aimed at cushioning the impact of citizens arising from the increase in fuel prices and electricity tariffs.

In a related development, UPND leader, Hakainde Hichilema has predicted that Zambians will soon call for an early presidential election owing to the challenges they are going through.

Mr. Hichilema has charged that Zambians are tired with the continued increase in the cost of living which he says will rise further by July 2020.

But Young African Leaders Initiative –YALI- President Andrew Ntewewe says contrary to the sentiment by the UPND leader, Zambia has not reached a crisis for citizens to rise against government.

Mr. Ntewewe tells Phoenix News that Zambians are very much aware of the reasons the country is experiencing the current economic challenges and understand that such things are a normal phenomenon which does not warranty an uprising against government.

He says it is unfortunate that the kind of opposition in the country is that which does not help in finding solutions but bent on spreading falsehoods.



The post Economist Says Sticking To Austerity Measures Is Only Way To Cushion The Impact Of The High Cost Of Living appeared first on Phoenix FM.

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