(2 minutes read)
· The increase in food inflation in Zambia is not the result of economic sabotage by business people but die to the wrong policies of the government, according to the United Party for National Development (UPND) President Hakainde Hichilema
· Mr Hichilema clarified that the people running the country had no clue on what was happening to the economy
· They spend most of their time persecuting opponents and dishing out printed Kwacha
The increase in food inflation in Zambia is not the result of economic sabotage by business people but die to the wrong policies of the government, according to the United Party for National Development (UPND) President Hakainde Hichilema.
Mr Hichilema clarified that the people running the country had no clue on what was happening to the economy. They spend most of their time persecuting opponents and dishing out printed Kwacha.
Elaborating his point Mr Hichilema said in 2011 Zambia had a debt of US$1.1bn. The exchange rate to the dollar was K7, the inflation rate was 6%. However, as on today, the debt is over US$15bn, the exchange rate is K22 inflation is 22.2%, which are signs of a badly managed economy. The ruling government, however, he said, claimed the increase in the prices of goods and services was economic sabotage by business people. That could be passing on the bucks of their inefficiency to others. Zambia officially will have to go for an election this year to elect a new president.
