ECONOMIST SAYS ZAMBIA MUST PRIORITIZE DOMESTIC ECONOMIC GROWTH AMID GLOBAL TRADE TENSIONS

ECONOMIST SAYS ZAMBIA MUST PRIORITIZE DOMESTIC ECONOMIC GROWTH AMID GLOBAL TRADE TENSIONS

By Chamuka Shalubala

Economist Dr. Lubinda Haabazoka says the ongoing trade war between the United States and China should serve as a wake-up call for Zambia to prioritize domesticating its Gross Domestic Product -GDP.

Speaking to Phoenix News, Dr. Haabazoka has emphasized the importance of local production, noting that Zambia must focus on producing the majority of goods consumed within the country to avoid being affected by external trade disruptions.

He has explained that for Zambia to remain self-sustainable and competitive, its economy must not be overly reliant on foreign markets and investments.

Dr. Haabazoka has also encouraged citizens to take an active interest in entrepreneurship, stressing that revenue generated from local businesses should stay within the country to support economic growth.

He adds that Zambia should reduce its dependency on imports, warning that overreliance on foreign goods makes the country vulnerable to the negative effects of international trade conflicts.

PHOENIX NEWS

[ad_1]

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}

[ad_2]