BUSINESS & ECONOMY
Musokotwane Sets Export-Led Growth, Jobs and Efficient Delivery as Treasury Priorities
Finance and National Planning Minister Dr Situmbeko Musokotwane says Zambia’s economic reforms must now translate into more jobs, higher incomes, increased production and greater opportunities for citizens.
Speaking during a strategic visioning meeting at the Ministry of Finance and National Planning, where management and senior officials welcomed him back following his re-appointment, Dr Musokotwane said the country had spent the past five years laying the foundation for economic stability.
He said the focus must now shift towards ensuring that the improvements in the economy are felt in the daily lives of Zambians.
“Our job now in the next five years is to work hard so that the good macro-economic fundamentals that we have established are converted into tangible public benefits that every person on the street can appreciate,” said Dr Musokotwane.
He said the ministry would place particular attention on young people by supporting skills development, employment, entrepreneurship and opportunities for increased incomes.
Dr Musokotwane also directed the ministry to align its systems and service delivery with the President’s Grow Zambia Agenda, including setting clear performance targets and improving the speed at which Government responds to citizens, businesses and investors.
He said reviewing institutional service charters would be important in making Government processes more predictable and accountable, particularly for suppliers and other stakeholders who need clarity on how long Government procedures and payments should take.
The Minister said the Treasury should also look beyond traditional measures such as debt, the exchange rate and the national budget, and pay closer attention to what is required to increase production and exports.
He cited national targets that include producing three million metric tonnes of copper, generating US$1 billion in annual beef exports and reaching one million metric tonnes of sugar production.
Dr Musokotwane said achieving these targets would require coordinated action between Government, private investors and financial institutions, backed by infrastructure such as roads, electricity, irrigation and water systems.
He described export-led growth as central to Zambia’s efforts to expand the economy and reduce poverty, arguing that increased exports would bring in foreign exchange while creating demand and business opportunities across sectors such as agriculture, transport and retail.
“Zambia should draw lessons from middle-income and other emerging market countries whose development trajectories had been supported by sustained export growth,” he said.
Earlier, Acting Secretary to the Treasury Mwaka Mukubesa welcomed Dr Musokotwane and reaffirmed the ministry’s readiness to support the renewed growth agenda.
Ms Mukubesa said the previous reform period had helped restore fiscal and debt sustainability, advance debt restructuring, stabilise the exchange rate and return inflation to single digits, while supporting renewed activity in manufacturing, fertiliser production and mining.
She said the ministry would strengthen institutional Key Performance Indicators and service delivery arrangements to support the implementation of Government’s growth objectives.
Dr Musokotwane said the ultimate measure of the renewed mandate would be whether Zambia creates more jobs, expands economic opportunities and enables more citizens to participate meaningfully in the country’s economic development.
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