Zambian President Edgar Lungu on Friday expressed optimism on the country’s economic recovery in 2021.
“The good news is that a rebound of our economy is projected in 2021 subject to the COVID-19 pandemic being contained. The implementation of supporting policy measures will further stimulate the economy and put us on a sound path to recovery,” the Zambian leader said during the opening of the 5th Session of the 12th National Assembly.
While acknowledging that the economy remained resilient from 2016 to 2019, the Zambian leader said economic growth was projected to decline by 4.2 percent this year, adding that the impact of the global economy has been immense on the country.
The Zambian leader said the government has identified economic diversification and job creation as the key pillars to support the country’s development agenda, adding that a number of interventions have been implemented in the sectors identified as key drivers and enablers of economic diversification and job creation.
“I wish to assure this August House that my government remains resolute to implementing economic recovery programs aimed at achieving a stable macroeconomic environment, and affordable private sector investment,” he added.
According to him, pursuing economic recovery was his government’s priority because so much depends on the economy.
He, however, called for the building of resilience in all spheres of the country’s systems, adding that it was imperative for the country to have resilience to shocks in the global economy.