Africa-Press – Zambia. Statement from the Chief Government Spokesperson Good afternoon all. Zambia’s attainment of a single digit inflation rate for the first time in three years is credence that the UPND Government has set the country on a clear path of economic growth.
Yesterday, Zambia’s inflation rate dropped below 10% for the first time since 2019 in the face of a global trend of record consumer-price growth. Despite major economies in the world experiencing increasing inflationary levels, the Zambian inflation rate dropped from 10.2% in May to 9.7% in June.
Subsequently, the Zambian Kwacha is the second-best performing currency after the Russian rubble. This is as a result of our currency growing by over 30% against the dollar in the last nine months.
What is key to note is that this economic growth is premised on the UPND Government’s sound economic policies which are being marshalled by President Hakainde Hichilema.
Government is convinced, beyond any reasonable doubt, that it is just a matter of time before the positive impacts of this growth indicator start trickling down to the general populace.
Once this growth is sustained, we shall witness cheaper prices being accessed by the Zambian masses in all sectors of our economy. This is an indication that our economic revival, as a country, has been set in motion and Zambians will reap the benefits of our efforts much sooner than later.
When we took over the reigns of power we knew that it was going to be a tedious task to rebuild this country. We are not there yet but we are very happy to reach this milestone. The signs are on the wall. We shall fix it. Trust your leadership. Trust the process.