Hakainde Hichilema (HH) Outlines 'Grow Zambia' Agenda: Targets Double Gross Domestic Product (GDP) Growth After $1.36B Eurobond Buyback

(MENAFN- APO Group)

President Hakainde Hichilema has presented a five-year blueprint aimed at doubling the size of Zambia's economy, supported by debt restructuring milestones and record foreign exchange reserves.

​Delivering his address to the Fourteenth National Assembly under the theme“Grow Zambia: An Agenda for Inclusive Growth and Opportunity for Every Zambian,” President Hichilema explained that five consecutive years of positive GDP expansion have set the foundation for broader economic progress.

​”Gross International Reserves have increased to their highest levels ever,” President Hichilema said.“We have gone a step further by successfully executing a 1.36 billion US Dollar Eurobond buyback, replacing expensive commercial debt with more affordable financing.”

​The Head of State explained that macroeconomic indicators must reflect in the daily welfare of ordinary households.

​”Going forward, our administration will focus on ensuring that these gains translate into tangible benefits for all citizens, including putting food on the table,” he said.“To deliver the Grow Zambia Agenda, to more than double the size of our economy, to create jobs and business opportunities, we must work as one nation.”

​President Hichilema said government plans to use alternative capital sources to finance this growth without adding strain to the national budget“To finance our ambitious development priorities, we will broaden the use of innovative financing instruments including Public-Private partnerships, joint ventures, bonds and capital-market instruments,” President Hichilema told lawmakers.

Distributed by APO Group on behalf of State House, The Republic of Zambia.

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