• Unstable Exchange rate is negatively impacting businesses across all sectors of the Economy.
• It is affecting business environment at both macro and micro levels.
• Local businesses which employ a large chunk of workers in the informal sector are experiencing high operational costs
A Political Party says the unstable Exchange rate is negatively impacting businesses across all sectors of the economy.
Golden Party President Jackson Silavwe told Money FM News that this trend is negatively affecting the business environment at both macro and micro levels.
Mr. Silavwe noted that Local businesses which employ a large chunk of workers in the informal sector are experiencing high operational costs owing to the up and down swinging of the Kwacha against the US Dollar.
“Due to this economic instability, it is only a matter of time local businesses start unleashing more unemployed people on the market thus pushing many into poverty and economic stagnation,” he said.
He called on Government to urgently employ strategies to stabiles the kwacha for businesses to thrive across all sectors of the economy.
Mr. Silavwe said for businesses to thrive, a stable exchange rate is needed.
“The Government must equally formulate a clear National Economic Plan to revive our economy that will inform into the National Budget and Government policies. A National Budget is not an economic plan,” he added