Zambias economic conditions and outlook for the medium term, exacerbated by the COVID19, remain a challenge and requires decisive policy measures to restore macroeconomic stability, clear domestic arrears, return the country to sustainable debt levels, migrate to a more sustainable fiscal path and reinvigorate growth. The Economic Recovery Programme (ERP) seeks to re-launch the economy on a path of sustained economic growth, while stabilizing the monetary, external, and fiscal environments. The recovery programme also contains policy measures to mitigate the socio-economic effects of the COVID-19 pandemic.

Required

1. Analyse the performance of the ERP in attaining the set objectives.
2. Explain the additional fiscal measures you would recommend to ensure the country is back on the recovery path.