Zambia News

Govt Retenues Budget – Pwc

The government has received praise from PwC Zambia for sticking to the budget last year.

Government spending hasn’t increased in Zambia, according to ANDREW CHIBUYE, country senior partner at PwC.

Mr. CHIBUYE stated that the nation’s economy has to be diversified when he gave the 2022 economic review today in Lusaka.

According to him, the mining industry must develop in a way that makes it possible for other industries to prosper as well.

According to Mr. CHIBUYE, the assistance provided to mines in the form of concessions is anticipated to result in increased production.

He has noted that while the cost of living has climbed by 14% annually, the government’s actions are anticipated to address the issue.

Moreover, MUTISUNGE ZULU, chief risk officer of ZANACO, claims that investors are suffering as a result of market uncertainty brought on by the country’s debt restructuring delays.

Mr. ZULU advises Zambians to have patience with their government because it takes time for macroeconomic indicators to produce results.

He asserts that the government has shown political will and is on the right route to revive the economy.

According to Mr. ZULU, he anticipates good things for the year 2023 because of the economy’s durability.

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