Zambian President Hakainde Hichilema has said his country is in action to have single-digit inflation by the end of this year because the ongoing macro-economic stabilization program has started yielding offering positive results.
According to Hichilema, the reduced inflation rate to 15.1 percent in January 2022 from 16.4 percent recorded in December 2021 supported by the stability in the price of many goods, stable and exchange rate.
The head of state said the situation where people’s incomes or salaries every month are buying fewer goods and services each time the inflation rate increases will soon come to an end.
Hichilema said that with a single-digit inflation rate, many benefits will accrue to citizens including stable and predictable prices of goods and services and increased purchasing power.
In line with his sentiments, this will eventually lead to stable interest rates with dividends accruing to citizens as they can have access to cheaper financing to improve their businesses.
The also President expressed sadness on the death of the 16 accident victims in Pemba district, Southern Province yesterday.
President Hichilema has sent a message of condolence to the families and friends of the deceased and said that his thoughts and prayers remain with the family and friends of the deceased.
He has also sent his best wishes for a quick recovery to the accident victims in the hospital.