GROWING the Gross Domestic Product (GDP) will require specific targets to increase output for key ministries and various sectors in the economy, says Economics Association of Zambia (EAZ) president Lubinda Haabazoka.
Dr Haabazoka said sectors to focus on should include the agriculture, retail, mining, construction, tourism and the Information Communication Technology (ICTs) sub-sector.
He Zambia should aim to increase its GDP in 2029 to $80 billion.
In a statement issued yesterday, Dr. Haabazoka said the target was very big but achievable.
He said it would be made possible with total commitment and thinking outside the box as well as a 24-hour economy and creation of multiple shifts.
Dr Haabazoka said scraping off over time to create more jobs and also optimising the Employment Act would help ease the burden on the employer.
“The issue of job creation works better with targets given to different profile ministries and sectors of the economy,” Dr Haabazoka said.
He said stakeholders in various sectors should be given targets on how much they should grow and what should be their optimal contribution to overall GDP.
Dr Haabazoka said high performers should be given medals and other forms of recognitions on a yearly basis.
By increasing GDP, he said, more jobs would be created, more government revenue and enhance the livelihoods of citizens.
He said to fight unemployment, a new concept could be introduced whereby, if a job pays K10, 000 for 8 hours a day, companies could employ two people for K5, 000 each to work 4 hour shifts in a day.
Dr Haabazoka said the concept should allow staff working on half rate to be employed legally in more than two work places.