Govt has paid K4.2bn to contractors – Mutati

Minister of Finance Felix Mutati says government has paid over 4.2billion kwacha to contractors and suppliers of goods and services in order to stabilize the economy.

According to a statement issued by Zambia’s First Secretary for Press Naomi Nyawali today, Mutati said the money had been paid for over a period of six months to unlock the liquidity problem which the country was facing.

He said the availability of liquidity in economy had helped to strengthen and stabilize the kwacha, making it one of the best performing currencies in Africa.

He expressed joy that Zambia had since registered a positive trade surplus of over 180 million dollars in the first half of this year.

He was speaking at the OR Tambo international Airport in South Africa when he Met Zambia’s High Commissioner to that Country Emmanuel Mwamba.

He added that the stability of the kwacha had resulted increased investment in government security bonds.

Mutati noted that about 50 per cent of the government security bonds were being subscribed by foreign investors who were bringing in an inflow of dollars.

He observed that increased cash inflow into Zambia would help create employment in the private sector.

         

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