By Christopher Chisi
A policy think tank has predicted that Zambians are expected to continue facing hard economic times, with poverty levels escalating if financial corrective measures are not urgently implemented.
Centre for Trade Policy and Development Researcher, Bright Chizonde, says during the hard economic times, the prices of goods and services are likely to go up as inflation breached the 8 percent upper limit.
Reacting to the recent upward adjustment on the policy rate to 10.25 percent from 9.75 percent by the Bank of Zambia, the CTPD Researcher, says the statement presents a gloomy picture of the state of the economy.
He has however indicated that the only glimmer of hope is that the Bank of Zambia has stepped up in confronting the economic challenges on the monetary side, a move he has commended.