CTPD predicts further rise in cost of living and doing business

A Trade Policy and Development Think Tank has projected a further rise in the cost of living and that of doing business in Zambia.

The Centre for Trade Policy and Development –CTPD- attributes this to inflationary pressures coming from the global markets, possibility of poor farming season due to erratic rains and an increase in fuel prices and electricity tariffs.

CTPD Head of Research, Boyd Muleya says other factors that will lead to a further rise in the cost of living and cost of doing business are increased demand from increased income due to the 41,500 jobs to be created, and payment to pensioners.

Giving the CTPD reflections on Zambia’s economic performance for the year 2021, Mr. Muleya says CTPD also expects a rise in local fertilizer prices which might pose a food security risk in the country due to a shortage in global fertilizer prices.