Depreciation of Kwacha has affected construction industry – Mutati

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Construction Industry

Former Commerce, Trade and Industry Minister, Felix Mutati, has observed that the depreciation of the Kwacha against the major foreign currencies has affected the construction industry which relies very much on imported materials.

Mr. Mutati has told QFM Business News in an interview that this has resulted in the volumes of employment in the construction industry being negatively affected.

He says government should initiate new mechanisms of revenue collection and ensure there is compression of expenditure if the kwacha is to regain its strength.

Mr. Mutati states that there is also need to minimize the deficit to allow the private sector to have better access to the financial sector.

He says if such measures can be put in place, the country’s economy will be headed for greater heights.

 

QFM

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