An Economist Yusuf Dodia has advised the government to revisit the revocation of the Statutory Instrument No. 33 of 2012 as it prepares to announce the 2019 National Budget.

Government in 2014, through the Ministry of Finance, announced the revocation of statutory instruments number 55 and number 33.

The regulations were passed principally to support the implementation of monetary policy.
The government decided to revoke the two statutory instruments to allow for further consultations with stakeholders.

But Mr. Dodia says SI 33 focused on monitoring of the money flows in and out of the country.

He says there is need to come up with stringent measures that will help in the boosting of the country’s economy without even looking for financial assistance from donors such as the International Monetary Fund (IMF) and the World Bank.

Mr. Dodia, who is also Private Sector Development Association (PSDA) Chairperson, tells Money FM News via telephone that Zambia exports about US$8 billion of Copper, Agriculture produce, cement and livestock products among other products.

“Despite us exporting such amounts, we continue to suffer shortages of foreign currency on the market,” he wonders.

Mr. Dodia says Zambia has potential to grow its economy provided the government comes up with good policies to support the growth of the economy.

He also feels that the government, in the 2019 national budget, should support private sector growth as this can help in growing the country’s economy.