Wednesday, March 14, 2007

Economic growth rate too low - HH

Economic growth rate too low - HH
By GEORGE MUMBA

UNITED Party for National Development (UPND) President, Hakainde Hichilema, has said Zambia's economic growth rate must be in the range of 8 to 10 per cent if the country is to develop. And Mr Hichilema has charged that bureaucracy in Government discouraged many investors since it took long to finalise negotiations. Speaking on MUVI TV's Eye Ball To Eye Ball programme last evening, Mr Hichilema said the targeted economic growth rate in this year's national budget of 6 to 7 per cent was too low to bring meaningful development.

"If we are to record any meaningful economic development we need a growth rate of 8 to 10 per cent, the target in the national budget is very low," said Mr Hichilema. Meanwhile, Mr Hichilema has described the unemployment and poverty levels in the country as grave. Mr Hichilema, who buttressed his observation by citing the brain-drain that had rocked the teaching and medical professions, said there was need for Government to rejuvenate the tourism and the agricultural sectors to generate national income to improve the economy. "Our professionals are leaving the country because of poor salaries.

Unemployment remains high and poverty levels stand at 80 per cent. We need to make serious decisions on these issues," Mr Hichilema said. On the expected energy shortage by 2008, Mr Hichilema said Government must look into the matter as it might harm the economy. He said the Lower Kafue Gorge, Itezhi-Tezhi Dam and Kalungwishi power projects must be worked on to avert the energy shortage.

On corruption, Mr Hichilema said the vice was a cost as it lowered the country's image internationally. He pointed out the disappearance of K36 billion stolen by some civil servants and the recent developments at the Ministry of Lands that culminated in the dismissal of the Minister and the permanents secretary were signs that corruption remains a challenge.

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1 Comments:

At 2:22 PM , Blogger MrK said...

I like HH, however, he is still profiling himself as MMD Lite. The country needs radical change - not revolution, not violence, but a radical shift in conception of what the economy is and who it serves. There has to be a shift away from pandering to foreign mega-corporations, and towards the creation of an all-encompassing indigenous middle class. It is the only way forward.

 

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