Evelyn Hone College lecturer in the School of Business and Media Mwiya Ikabongo has called on the Zambian government to prioritize strategies to reduce food inflation and boost the energy sector to aid in economic recovery.
Speaking in an exclusive interview with the Zambian Business Times (ZBT), Ikabongo emphasized the need to actualize the projected target of 6 and 8 percent inflation instead of the current rate of 13.8, which is twice the target.
Ikabongo highlighted the importance of stabilizing prices for goods such as maize, mealie meal, and rice, which have pushed inflation to the above the 6 – 8 target band.
Ikabongo also suggested the need to prioritize the productive sectors to abate the increased number of load shedding that has crippled various sectors.
He said the operating of the energy sector at full capacity would be a game-changer towards economic recovery.
He noted that It is crucial for the government to take action and prioritize strategies to reduce food inflation and boost the energy sector to aid in economic recovery.
Ikabongo said the stability of prices for essential goods and the operation of the energy sector at full capacity will go a long way in improving the economic situation in Zambia.
“The drought has affected a lot of sectors, but we would love to see food inflation being arrested many Zambians would love to see stability for prices for goods such as maize, mealie meal, rice, and others that have pushed the inflationary pressure, we expect food inflation to be a priority,” he said.
“We must commend the authorities that we have seen a stable price of fuel maintained for the past two to three months, this development allows for planning and eliminates uncertainty in the market, we hope to see more stability,” he said.
