THE Policy Monitoring and Research Centre (PMRC) says Zambia has to make fundamental policy shifts going forward if the country is to achieve the objectives of the Vision 2030.
In its end of year report, the PMRC stated that the country’s economic recovery plan should detail steps that must be taken to springboard the economy on a path of recovery and attainment of the objectives of the Vision 2030.
“In view of the current global challenges, Zambia must remain strategic and position itself for a resilient and determined road towards economic recovery. Yes, the COVID-19 has negatively affected the economy and several businesses and now is the time to formulate a ‘Zambia post-COVID-19 economic recovery roadmap.’ This strategic plan should detail steps that must be taken to springboard the economy on a path of recovery. It should detail how the 2020 national budget will be re-strategised as well as how economic sectors will be strengthened to ensure that the country is able to generate substantial amount of revenue despite the difficult times facing humanity. This is also a call for concerted efforts between government, civil society, academia and private sector to work out a plan on enhancing domestic resources mobilisation using innovative means,” PMRC stated.
“The report that more than K6 billion has been raised from the intended K8 billion under the COVID bond is very encouraging and will, indeed, assist to improve the liquidity levels in the economy that have reduced due to the Coronavirus pandemic. Zambia has to make fundamental policy shifts if the country is to achieve the objectives of the Vision 2030. Achieving these objectives is essential to repositioning the Zambian economy onto growth and development, in a manner that makes the country less susceptible to both domestic and external shocks. This is seen as a critical area of focus midway before the expiry of the Vision 2030. The Seventh National Development Plan (7NDP) provides a clear roadmap of what needs to be done to diversify our country’s economy. Going forward, there is dire need for the mobilisation of resources that will finance the various strategies and policies as outlined within the 7NDP towards the realisation of economic diversification.”
PMRC reiterated the need for further discussion with the International Monetary Fund (IMF) towards a possible deal.
“The call for Zambia is to remain focused towards our aspirations in the Vision 2030, the 7NDP and, indeed, our targets in the Medium-Term Expenditure Framework (MTEF). This period should be used to re-strategise our efforts as a nation so that we are resilient to negative global occurrences in our economy. This is also the time for Zambia to push further discussions with the IMF for processes and procedures towards a possible IMF programme. Overall, this period is a time to enhance our efforts as a nation as we strive towards recovery and growth of our economy,” read the report.
“When it comes to adaptation measures in the agricultural sector, since climate change is already running its course, the Zambian government is urged to encourage more farmers to find means of improving sustainable agricultural practices. Data from the 2015 national representative Rural Household Survey, conducted by IAPRI, found that only 8.8 per cent of smallholder households adopted Conservation Agriculture (CA) as a climate smart agriculture technique in the 2013/14 farming season. The rates were, however, slightly higher in areas that were affected by climate change effects, such as the Agro-Ecological Zone I and II, in the southern parts of the country, where 11.7 per cent of farmers adopted Conservation Agriculture as a climate smart technique.”