‘Zambia’s debt burden sustainable’
Published On May 1, 2016 » 1905 Views» By Bennet Simbeye » HOME SLIDE SHOW, SHOWCASE
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THE Government will ensure that Zambia’s debt does not reach risky levels as that may reduce the resources for future development projects, President Edgar Lungu has said.
Mr Lungu said the country’s debt burden was still sustainable with more room for future Government spending on various infrastructure projects.
The President said this in a speech read for him by Commerce, Trade and Industry Deputy Minister Raymond Mpundu during the Zambia Institute of Chartered Accountants (ZICA) annual ball in Livingstone at the weekend.
“I am pleased to inform you that the country’s debt burden is still sustainable with more room for future Government spending on infrastructure,” the Head of State said.
Mr Lungu said accelerated infrastructure spending had driven the economic growth, provided jobs and delivered vital services to the people.
He said the Government was resolved to actualise the economic diversification, which successive governments had been talking about over the last 50 years without attaining tangible results.
Mr Lungu assured the nation that his Government was prepared to walk the talk in diversifying the economy from dependence on copper mining to other viable industries such as agriculture, tourism and manufacturing.
“Plans are underway to commence diversification within the mining industry by moving away from copper to exploit other minerals which we are endowed with such as gold, gemstones, diamonds and manganese just to mention a few,” Mr Lungu said.

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