ECONOMIC RECORD ‘TOP GRADE’
…Zambia’s recovery among Africa’s best – Hamududu
PRESIDENT Hakainde Hichilema’s management of the economy is ‘top grade’”, Party for National Unity and Progress (PNUP) president Highvie Hamududu has said.
Hamududu said Zambia had recorded one of the fastest recoveries on the continent despite inheriting deep economic challenges.
Speaking during the Red Hot Breakfast Show on Hot FM yesterday, he said Zambia’s economic indicators pointed to a country firmly on the path to recovery, citing improved growth, a stronger kwacha, lower inflation and rising investor confidence.
“But in four years, he has demonstrated an excellent record. Zambia’s performance under President Hakainde Hichilema in the last five years is top grade, and very few economies have demonstrated that kind of speedy recovery in five years,” Hamududu, who is an economist, said.
Zambia’s estimated five per cent economic growth compared favourably with other countries in the region and across Africa making the country one of the continent’s strongest-performing economies.
He said the appreciation of the kwacha, increased international reserves and inflation falling to about six per cent were further evidence that the economy was stabilising.
“The economy is recovering, as evidenced by about five per cent growth. That is no mean achievement when you check economic growth of countries around Zambia and Africa. Zambia is one of the top-performing economies in terms of growth,” Hamududu said.
He, however, acknowledged that the cost of living remained a major concern for many Zambians but argued that decades of economic decline and poverty could not be reversed within a single five-year term.
The country faced huge backlogs in poverty, unemployment and economic mismanagement that required sustained reforms over many years.
“The backlog is so huge that it cannot be dealt with in five years. You need 10 years. You need 15 years. You need 20 years. The good news is that recovery has begun, and great things are beginning to happen,” Hamududu said.
He attributed the progress to Hichilema’s technical competence in managing the economy, pointing to Zambia’s debt restructuring process, completion of its International Monetary Fund (IMF) programme, increased mining investment and growth in tourism and agriculture.
Hamududu said economic transformation required technical expertise, not mere political rhetoric.
“What Zambia needs now is technically competent people to lead our country because our problems are technical. To rebuild an economy, you need technical competency and the President has the technical competency,” Hamududu said.
He also credited the administration with expanding social spending through free education, the Constituency Development Fund (CDF), increased social cash transfers and wider support under the Farmer Input Support Programme.
Hamududu said while many campaign promises were yet to be fully realised, the direction of the economy was encouraging and deserved recognition.
He appealed to Zambians to acknowledge the progress made so far and support the continuation of policies aimed at consolidating economic recovery.
“Yes, there’re still issues that affect people, but progress is being made. We’re humbly asking, let us not lose this path of progress and prosperity that is already being demonstrated,” Hamududu said.
Zambians are expected to cast their votes on august 13 to elect the president, members of Parliament, mayors, council chairpersons and councillors.
Hichilema will be seeking a second five-year term of office.
He won the presidency in august 2021 with a runaway 2.8 million votes.
Story courtesy of UPND Media
