New Inflation Rate Indicative Of PF’s Addiction to Spending – Nevers Mumba

Movement for Multi-Party Democracy (MMD) President Dr. Nevers Sekwila Mumba says he has been proved right when he predicted in September 2015that Zambia was heading for double digit inflation. Dr Mumba says this is due to excessive reckless spending by the Patriotic Front (PF) government and the weakening Kwacha which has driven prices upwards.

Speaking in Lusaka on Friday, Dr. Mumba said the alarming jump in the inflation rate from 7.7% to 14.3%, an increase of 86% in a single month, is indicative of more difficulties to come for the people of Zambia. He has called on the PF Government to demonstrate seriousness in efforts to save the economy from collapse and rescue Zambians from suffering.

Dr. Mumba explained that the PF has failed to correctly diagnose what is wrong with the country and have continued blaming the current crisis on global factors while ignoring their role in causing and prolonging the situation.

Dr. Mumba reminded the nation that the Minister of Finance Honourable Alexander Chikwanda recently told the nation that he has tried to plead with the President Mr Edgar Lungu, Vice-President Inonge Wina and all PF ministers to stop wastage of money by cutting down on unnecessary foreign travel when the country’s coffers are dwindling, but this advice has fallen on deaf ears because Ministers get per diem of $500 per day when they travel.

Dr. Mumba said the PF government does not care for the suffering masses, most of whom go to bed hungry due to high prices of commodites. The PF ministers only care about their lavish lifestyles which are funded by tax-payer money.

He said the Zambian economy is in very poor health and needs urgent intervention but that the PF government is incapable of doing the right thing due to their selfishness and lack of understanding of the economy.

Dr.Mumba said the MMD is ready again, as in 1991, to rescue the people of Zambia from the collapse of the economy and untold suffering.

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