Despite COVID-19, Zambia’s Economy has Performed Better – EAZ

President of the Economic Association of Zambia, Lubinda Habaazoka President of the Economic Association of Zambia, Lubinda Habaazoka

Zambia’s Economic performance in the first half of the year has been rated positively.

The Economics Association of Zambia(EAZ) says the country’s economy has performed better than anticipated during the period under review.

EAZ President Lubinda Habaazoka, in an interview with ZNBC News in Lusaka said due to the rising COVID-19 pandemic, many predicted the country would experience an economic slump.

Dr. Habaazoka said COVID-19 has posed a negative impact on revenue collection and the country’s ability to enhance Foreign Direct Investment.

He said the COVID-19 has stimulated the flight of capital from emerging markets such as Zambia to developed countries.

He however noted that the Eight Billion Kwacha COVID Bond has ameliorated the negative impact of COVID-19 on Zambia’s economy.

Dr. Habaazoka also said the 10 billion Kwacha Economic Stimulus Package, announced by the Bank of Zambia (BOZ) will reinforce efforts to make the country’s economy recover.

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