The Jesuit Center for Theological Reflection –JCTR- has backed observations by the Bank of Zambia that the implementation of austerity measures is not being done prudently.
Addressing journalists this week on Tuesday, Bank of Zambia Governor, Dr. Denny Kalyalya said lack of effective implementation of austerity measures is negatively affecting the economy, citing the continued pressure fundamentals.
And in an interview with Phoenix News, JCTR Social Economic Programme Officer, Innocent Ndashe is urging government to accompany its pronouncements with actual actions if the country is to survive the current economic challenges it is experiencing.
Mr. Ndashe notes that government has exhibited resistance to adhering to austerity measures as evidenced from the carrying out of new projects in areas where there are by elections and carrying huge entourages on presidential trips among others.
In an effort to reduce the fiscal deficit, government announced a ban on unnecessary trips by government officials and halting of all planned new infrastructure projects as part of the austerity measures.