Recent Developments In Energy Sector To Erode 2020 National Budget Targets To Stimulate Local Economy

By Logic Lukwanda

Economist Noel Nkhoma has predicted job cuts this year for companies to survive due to economic hardships.

And Mr Nkhoma is of the view that most employers will not entertain any salary increment for workers due to the prevailing economic challenges.

He told Phoenix News that instead of improving worker’s salaries, employers will be looking at reducing cost and this will be done through downsizing the workforce.

Meanwhile, Mr Nkhoma says 2020 will be even tougher for many citizens as their incomes and purchasing power will be eroded by the high inflation which is set to be on the increasing trajectory.

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