ECONOMIC CHALLENGES NEED CONCERTED EFFORT – CHISANGA

By NAMO PHIRI

ECONOMIST Kelvin Chisanga has called for concerted efforts in the policy framework to address economic challenges in the country.

Mr. Chisanga said there was a need for key stakeholders to engage on solution based factors, putting in mind the potential profile on risk and market power because the country was set to experience tough times.

He said this was because the rapid movements that were being experienced in the exchange rate coupled with instabilities in global fuel prices will continue to put pressure on the country’s economy.

“This will definitely continue to speak of negatives and drive away some good economic effects and elements being recorded on the other side as this continuous increments key factors such as interest rates, cost of goods and increased fuel prices prove that the cost of living will increase,” Mr. Chisanga said.

He said these factors will not only affect the cost of living for families, but also the business environment as the cost of doing business will also be affected.

He noted the pivotal role that fuel played for businesses to run and that the cost of fuel was a determining factor in the cost of doing business.

He also predicted that the year may become tougher as there were many factors that may lead to the cost of living becoming higher.

He also pointed out forex and cited the drought which had led to some parts of the country not having enough maize as another indication that the country was yet to face tougher economic challenges.