JCTR May 2020 BNNB Statement

The country’s COVID-19 cases at the end of May 2020 stood at over 1000 cases. Though over 74 percent recovered from the disease and deaths remained very low compared to the global average, the number of cases has more than quadrupled in a space of a month. Despite the increase in the number of COVID-19 cases, Zambia has slowly opened up her economy under the “new normal” in a bid to ensure economic activities continue and thus protect people’s livelihoods. In May 2020, restaurants and casinos among others were allowed to reopen. The decision came as no surprise given the evident impact of the halting of various economic activities both on the economy and on people’s livelihoods. Moreso, Zambia’s year on year inflation rate for the month of May as measured by the Zambia Statistical Agency amidst job losses and reduced incomes increased to 16.6 percent in May 2020 from 15.7 percent in April 2020.