ZAMBIA’S ECONOMY CONTRACTED BY 2 PERCENT IN 2020

By Hannock Kasama

Government says Zambia recorded an economic growth rate of negative 2 percent in 2020 due to the harsh effects of COVID 19.

Commerce, Trade and Industry Minister CHIKOPA MULENGA says the pandemic has had devastating economic impact globally.

Mr. MULENGA has called for concerted measures to revamp Zambia’s economy.

He says the UPND Administration is ready to provide a conducive environment to Zambia’s economic recovery.

Mr. MULENGA said this in Lusaka during the Local Content Conference of Zambia’s industries.

The objective of the conference is to explore measures to maximize the benefits of natural resources critical to long term economic development.

At the same function, Zambia Association of Manufacturers President EZEKIEL SEKELE called for value addition to local products.

Mr. SEKELE said value addition is key to leverage the international market.

And Zambia Compulsory Standard Agency Domestic Quality Monitoring Manager GERALD CHIZINGA said his agency is committed to collaborating with various stakeholders to produce quality goods for the local and international markets.

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