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It’s basic economics, not sabotage- HH tells Lungu

Filed under: Breaking News,Business |
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HH with Lungu

United Party for National Development (UPND) president, Hakainde Hichilema poor economic management and corruption is the real culprit causing the country’s economy to bleed.

Seemingly responding to President Edgar Lungu who believes price hikes obtaining in the country is an act of sabotage, Hichilema says the cost of goods may be reduced by addressing economic fundamentals like factors of production accompanied by prudent fiscal management.

He says in doing so, the country would see prices going down and an increased exports, bringing in the much needed foreign currency in Zambia.

“Poor economic management and corruption is the real culprit but we assure the people of Zambia that we shall enable the reduction in the cost of goods by addressing factors of production and the appreciation of our currency through prudent fiscal management and increased exports,” he says.

Hichilema adds that a government that believes the high cost of commodities is an act of sabotage is either highly incompetent or delusional or perhaps both, adds that the exchange rate and the cost of production is a key indicator.

The UPND leader bemoans the eroding disposable incomes, “Month ends used to be happy times. It was a period when your efforts were graciously rewarded by the purchasing power of your salary. We’ll repair this damaged economy and your income will be meaningful again. We are fiercely driven by this!”

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