FINANCE and National Planning Minister Dr. Situmbeko Musokotwane says reducing the prices of various commodities alone is unlikely to stabilize the cost of living. Speaking during the National Development Coordinating Meeting Programme in Lusaka this morning, Dr.
Musokotwane explained that while government could encourage cheaper goods, it cannot compel manufacturers, traders and other market players to sell products at lower prices. Musokotwane added that although inflation has decreased, households will continue to face high living costs unless the country focuses on increasing production and raising incomes. He noted that government is working to create an environment that supports production, which will help ease living costs over time.
Musokotwane has emphasized that the country’s development plan has already achieved important gains, including improvements in the national debt profile and a recovery in productive sectors such as mining, which had contracted in previous years. At the same event, Zambia Statistics Agency Acting Statistician General Sheila Mudenda disclosed that employment in the country rose to 4,175,010 in the second quarter of last year, up from 2,902,298 in the first quarter, leading to a drop in the unemployment rate from 12.9% to 10.3%. Meanwhile, Ministry of Finance and National Planning Acting Permanent Secretary for Budgeting and Economic Affairs Willis Chipango said Zambia’s 2025 budget performed fairly well, with domestic revenue reaching K181.6 billion against a target of K178.1 billion.PN
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