Economic experts have challenged the government to work towards sustaining economic gains registered in 2019 to facilitate growth.
The government has been urged to ensure inflation gets back to a single digit band and sustained, and also find solutions to fiscal and energy challenges facing the economy.
In an interview Tuesday, Professor of Economics at Chancellor College, Ben Kalua, commended authorities for reducing bank rates and containing inflation within single digit during a greater part of 2019.
He was, however, quick to condemn the proliferation of subsidies in the budget, which he said is increasing the burden on the tax payer.
“There has been a proliferation of non performing subsidies, introduction of new ones formerly and informally. The seed, fertilizer and malata subsidies are formal but there have been other subsidies where people were given assets by the government such as tractors and the Kabaza motorbikes,” Kalua said.
In a separate interview, economic expert, Edward Chilima, said authorities did well in stabilising the exchange rate, facilitating an improvement on the doing business index and achieving the International Monetary Fund’s targets which led to improved donor confidence.
He however, rated the economy as still fragile.
Chilima added that the year ended on a shaky ground largely due to the political impasse and increasing maize prices.
“We hope 2020 will show good tiding,” Chilima said.