President Edgar Lungu has announced that the 2020 economic prospects for Zambia are positive.
President Lungu says projections include a real growth rate of 3% and inflation to be maintained within the range of 6 to 8 %.
Mr. Lungu has said that the fiscal deficit is expected to reduce to 5.5% and domestic revenue mobilization is projected to increase to at least 22 % of gross domestic product GDP adding that fiscal consolidation will continue to be a priority to ensure sustainable and inclusive growth.
President Lungu said this During the Annual Greeting of the Diplomatic Corps at state house in Lusaka today.
He has also disclosed that the Zambian government will continue to anchor efforts on the five development strategic areas of the 7th national development plan.
The president has therefore appealed to the diplomats for their support as government looks to better the livelihoods of the ordinary citizenry.
And President Lungu has further disclosed that the Zambian government during the course of 2020 will intensify programs aimed at mitigating the devastating effects of climate change as well as ensuring the prudent use and management of diminishing resources.
He said that one of the most important areas of focus will be the safeguarding of the country’s water resources adding that this will require concerted efforts from various stakeholders, including the private sector, the civil society, and cooperating partners.