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Zambia Economic Recovery Programme 2020-2023

Zambia Economic Recovery Programme 2020-2023

Read full programme here . . .

These are challenging times for the country. For the first time since 1998, the economy will
contract in 2020 mainly as a result of the effects of the COVID-19 pandemic. The main concern
of my Government is, therefore, to reinvigorate growth, reduce poverty and inequality, and attain
sustainable economic development.
The Patriotic Front Government is aware and mindful of the challenges and the expectations
of the Zambian people. We know that tough times require bold actions. The current economic
challenges are largely a product of the effects of COVID-19, past internal and external shocks
that may have occurred, mostly relating to adverse weather conditions, falling copper prices, as
well as delayed fiscal consolidation and the slow pace of economic diversification.
The Economic Recovery Programme (ERP), which builds on the Economic Stabilisation and
Growth Programme (ESGP), has been formulated to address the various dimensions of our
current challenges. It sets out the choices we have to make as a nation over the next four years
(2020-2023) and provides a clear road map of strategic policy actions and enablers required to
revive the economy and place it on a path of sustainable growth and development. In doing so,
it refocuses our efforts on building the private sector as the key driver of economic growth.
The focus on the private sector is also central to the essential task of developing an indigenous
capital base.
The Programme is anchored on five strategic areas, namely: restoring macroeconomic stability;
attaining fiscal and debt sustainability; dismantling the backlog of domestic arrears; restoring
growth and diversifying the economy; and safeguarding social protection programmes. In line
with these pillars, the theme for the ERP is “Restoring Growth and Safeguarding Livelihoods
through Macroeconomic Stability, Economic Diversification and debt Sustainability”.
With the successful implementation of various interventions in these areas, I am confident that
we will live up to our mantra of developing our nation without leaving anyone behind.

 

The formulation of this Programme is driven by a number of principles which will guide its
implementation. Firstly, the Programme will focus on restoring macroeconomic stability as a
pre-requisite to reinvigorating growth. It is an established fact that growth is key to sustainable
development and human progress which we all deserve. This is even more urgent in the context
of the COVID-19 pandemic.
Secondly, we will implement the Programme in an Integrated Multisectoral Approach. In
this regard, emphasis will be placed on collaboration between the public and private sector,
cooperating partners, faith-based organisations and other stakeholders. We shall also ensure
horizontal and vertical coherence in order to attain the objectives of the Programme in an
efficient and effective manner. This will involve not only the state but also non-state actors at
national and international levels.
Thirdly, in line with Article 8 of the Constitution of Zambia (Amendment) Act No. of 2016, the
Programme will be guided by the principles of good governance and integrity, promoting human
dignity and sustainable development, which are an embodiment of our national values and
principles.
As we embark on the implementation of the new Programme, I wish to commend the fortitude
of my fellow Zambians during the challenging times we have gone through in the recent past. In
the same vein, I wish to assure everyone that my Government will implement this Programme
diligently. The success of the Programme will depend on proper implementation, including
effective coordination of various components amongst all stakeholders at national and lower
levels. I, therefore, implore the Ministries of Finance and National Development Planning to
provide the leadership in the implementation of measures contained in the Programme.
I also look forward to the partnership and support of the private sector, civil society organisations,
Cooperating Partners and indeed all Zambians as we launch and commence implementation of
this Programme. With support from all, we will be able to revive our economy and re-launch it
on the path to sustained long-term growth and development.

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