Zambia’s Economic Transformation Requires Overhaul, Says Expert
Renowned economic expert Mr. Kelvin Chisanga says Zambia’s economic future hinges on a comprehensive reform plan to address key challenges.
Speaking on the current fiscal issues, Chisanga emphasized the need for strategic reforms to reduce Zambia’s national debt and reform taxation policies aimed at improving the primary fiscal balance.
“There is an urgent need to cut unnecessary spending and eliminate wasteful expenditures. Additionally, parastatal balance sheets should be streamlined, with a clear path toward privatization,” Chisanga said.
In his analysis, Chisanga also stressed the importance of revitalizing Zambia’s mining sector and other critical industries to attract both local and foreign investments.
He pointed out that reforms are essential to make these sectors more competitive in the global market.
He further noted, “Zambia must pull demand from primary resource sectors while fostering the growth of tertiary and secondary industries. This, coupled with vertical integration systems and value addition, will significantly enhance our economy and ensure sustainable growth.”
