An Economist has urged the government to ensure that funds made available by various stakeholders towards the fight against COVID-19 are used to minimize the loss of lives resulting from the impact of COVID-19.
Speaking in an interview with Money FM News, Trevor Hambayi said once the country gets over the challenge of losing lives; government should then look at how best the money can be put in the economy to ignite productivity.
Mr Hambayi said the more money government will put into the economy will project the fast rate at which the Country’s Gross Domestic Product (GDP) will grow.
“The Best way for having to use any funds we are being given for COVID-19, firstly in the short term we have to use the funds in the best way that we can minimize the loss of from the initial impact of the epidemic, “Mr Hambayi explained.
“The more money that the government will put in the economy the faster the rate at which Growth Domestic Product (GDP) will grow.”
He has since emphasized the need to support the local manufacturing industry and be able to increase production capacity to compete on the global space post-Covid-19 period.
“And that is why it is important that we are able to support the local sector to be able to increase the capacity for production to compete on the global space post-Covid-19 period,” He said.
Mr Hambayi noted that this is the more reason South Africa has announced a 26 million dollar package to support its economy a development that will result in increased production capacity of the country.
Yesterday, the Green Climate Fund gave the Zambian government a grant of 2,184,555 US dollars for the Development of National Adaptation Plan (NAP).