Zambians Warned To Brace Themselves For Tougher Times Ahead

Zambians Warned To Brace Themselves For Tougher Times Ahead

Opposition Socialist Party Leader Fred M’membe has predicted that Zambia`s economic challenges will get worse by the end of this year and in 2020.

Addressing the media in Lusaka, Dr. M’membe has noted with concern that the basic needs are unaffordable for many, hunger, poverty and unemployment are some of the terms that could well define the living conditions of a great part of the country’s population.

Dr M’membe has since suggested that the factors behind this be interrogated and understood to enable the country develop the appropriate solutions.

Meanwhile, Dr M’membe is concerned that the country`s debt levels continue to grow to unsustainable heights with the current debt service burden at 40 per cent.

He says this means that on a monthly basis, the government uses 40 per cent of its revenues to pay debt and 50 per cent to meet its wage bill.

Dr M`membe is of the view that this indicates that the government only has 10 per cent of its monthly revenues left to fund healthcare and education among other social services.