President Hakainde Hichilema has declared that his administration will in 2023 focus on unlocking rigidities in the economy and factors hampering economic growth.
And President Hichilema has explained that the last 15 months of his administration hinged on how to stabilise the country’s economy and debt restructuring .
He stated that the country has managed to restore the development path of the economy, which has seen the pulling down of inflation and stabilising the foreign exchange rate to acceptable levels among other achievements.
ZANIS reports that the President was speaking during a discussion engagement organised by the Council on Foreign Relations in Washington-DC, attended by interest groups and moderated by Michelle Gavin, a former US Ambassador to Botswana.
President Hichilema assured that the country is poised for growth at 3 percent in 2023, adding that measures that have been also put in place to manage both external and internal debts, are pleasing.
“We had to deal with clamping down on public expenditure extravagance which was excessive, and will continue to work hard to bring it down despite it not being popular among others who were used to it,’ the President said.
President Hichilema said the government will strive to ensure it does not acquire debts as was the case in the past, hence several institutional reforms and measures have been instituted.
He further expressed happiness that the International Monetary Fund (IMF) deal had succeeded and more is being looked at to address the country’s debt situation.
Mr Hichilema said now that the country has stabilised, his administration’s focus will be on growing the economy.
“We are very clear about what we want to achieve and will continue learning from other progressive economies as well.
President Hichilema is in Washington DC to attend the U.S.A Africa leaders’ Summit which starts today December 13th to 15th 2022, to be attended by over 43 African heads of State at the invitation of President Joseph Biden.
The main focus of the conference is to strengthen Africa US relations and explore new areas of interest that will lead to mutual benefit of the two continents.
Meanwhile President Hichilema yesterday also attended a closed door meeting together with five other African leaders at the United States Institute of Peace.
The other Presidents who participated in the closed door meeting included those of Democratic Republic of Congo(DRC) , Niger, Somalia and Mozambique.