Government has paid K4.2bn to contractors – Mutati

Filed under: Breaking News,Business |

Felix Mutati

Finance Minister Felix Mutati says Government has paid over 4.2billion kwacha to contractors and suppliers of goods and services in order to stabilize the Economy.

Mutati says the money has been paid for over a period of six months to unlock the liquidity problem that the country was facing.

He says the availability of Liquidity in Economy has helped to strength and stabilizes the kwacha, making it one of the best performing currencies in Africa.

He expressed happiness that Zambia has since registered a positive trade surplus of over 180 million dollars in the first half of this year.

He was speaking at the OR Tambo international Airport in South Africa when Zambia’s High Commissioner to that Country Emmanuel Mwamba received him.

He added that the Stability of the kwacha has resulted increased investment in government security bonds.

Mutati noted that about 50 percent of the government security bonds were being subscribed by foreign investors who were bringing in an inflow of dollars.

He observed that an increased cash inflow into Zambia would help create employment in the private sector.


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.