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Zambian president takes 50% pay cut as part of austerity measures

Zambian president takes 50% pay cut as part of austerity measures

Zambia

Zambian President, Edgar Lungu, has reportedly requested that his salary be slashed by 50% as part of government-led austerity measures.

According to his Vice President, Inone Wina,who was addressing the country’s legislature late last week, Lungu had asked that his $45,000 monthly salary be halved, adding that the government was serious about reviving the country’s ailing economy.

“This government is committed to enforcing austerity measures and the president is the first national of the country to declare that even his salary be cut in half so that the country can observe that we have to make sacrifices as leaders,” Wina was quoted as saying. 

This government is committed to enforcing austerity measures and the president is the first national of the country to declare that even his salary be cut in half so that the country can observe that we have to make sacrifices as leaders.

The copper producing southern Africa nation is under economic slump largely as a result of falling prices of the mineral which constitutes 70% of its export earnings.

Zambia’s economic expansion slowed to 3.2% last year from 5% in 2014. A bulging budget shortfall is reported to have been created by a slow paced economy – the economy is expanding at its slowest pace in 17 years.

The president last month led a National Day of Repentance, Prayer and Fasting, dedicated to seeking God’s divine intervention in the country’s economic challenges.

“I wish to thank the Almighty God for allowing us to assemble and observe the day of repentance, reconciliation, prayer and fasting.

‘‘I personally believe that since we humbled ourselves as a people and have sincerely cried out to the God of Abraham, Isaac and Jacob; he has heard our cry, has forgiven out sins and will surely heal our land,” President Lungu said.

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