Zambia
Govt to Prioritise Infrastructure for Economic Growth
Finance and National Planning Minister SITUMBEKO MUSOKOTWANE says Government may need to...
By Ellen Hambuba
Finance and National Planning Minister SITUMBEKO MUSOKOTWANE says Government may need to tighten spending this year to free up resources for infrastructure projects aimed at supporting economic growth.
Speaking on the ZNBC Sunday Interview, Dr. MUSOKOTWANE said the shift from economic stabilisation to growth will require Government to change how public resources are allocated, particularly towards infrastructure that supports production.
He said Zambia will struggle to achieve the ambitious Grow Zambia production targets without adequate roads, electricity and other infrastructure to support farmers, miners and businesses.
Dr. MUSOKOTWANE said, for example, that the target of producing one million tonnes of sugar will require investment in roads to enable farmers to access production areas and transport their produce to markets.
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He said Government will therefore adjust its budgets to ensure that its responsibilities in supporting economic growth are adequately funded.
Dr. MUSOKOTWANE said Government will not be expected to finance all the infrastructure required to drive growth.
He said the private sector will increasingly be brought in as a partner, particularly through Public-Private Partnerships -PPPs.
The Minister cited the rehabilitation and development of railway infrastructure along the TAZARA and Lobito corridors as examples of projects where the private sector can provide a significant share of the financing.
Dr. MUSOKOTWANE said Government’s role will be to create the right conditions and incentives to attract private investment into such projects.
He said Government will also encourage local investors, including pension funds, to participate in productive investments so that Zambians can benefit from the country’s economic expansion.
Source: Zambia24 — Read more
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