The Bank of Zambia says it is taking necessary measures to address the depreciation of the kwacha.

Zambia’s exchange rate has depreciated by about twenty two percent.

Speaking during the 2019 Budget Analysis breakfast meeting organized by KPMG in Lusaka, Bank of Zambia Deputy Governor in charge of Operations Dr. Bwalya Ng’andu says there are many factors that has led to the depreciation of the local unit.

And speaking during a debate on the 2019 national budget, the Zambia Manufacturing Association (ZAM) expressed concern that that the government intends to introduce more toll gates saying this will have a direct impact on their transportation costs.

ZAM Chief Executive Officer Chipego Zulu says already, the manufacturing sector is already incurring transport costs bemoaning that this might be worse if the government introduces more.

She says the association is not against the introduction of these toll gates, but that it should be done without suffocating businesses.

And Economist Noel Nkhoma argued that the 2019 national budget is not speaking to the austerity measures that the government earlier announced.

Mr. Nkhoma, who is also Betternow Finance Chief Executive Officer, is also concerned with non-performing loans saying this has an impact on the financial market.

Meanwhile, Economic Association of Zambia President Dr. Lubinda Haabazoka says the government should remain bold as the mining sector is likely to object the changes made to the mining taxation system.

Speaking earlier, Bankers Association of Zambia Chief Executive Officer Leonard Mwanza says government should avoid competing with the private sector by being the major borrower domestically.