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{
    "id": 147071,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/147071/?format=api",
    "text_counter": 21,
    "type": "other",
    "speaker_name": "",
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    "content": "Mr. Speaker, Sir, in background, when the NARC Administration democratically took over the reins of power at the end of December, 2002, it, indeed, inherited an economy that had been shuttered into stagnation for several years. The consequences of the stagnation were reduced income per capita, escalation of unemployment and poverty problems and, indeed, dysfunctional national institutions. The new administration set out on an ambitious and comprehensive programme of economic renewal, namely, the Economic Recovery Strategy for Wealth and Employment Creation and with policy and institutional reforms that were in wide acceptance. Focused and consistent implementation of broad and appropriate economic and structural reforms, embodied in this strategy and indeed, the resilience and hard work of our people, led to a steady expansion of our economy from a virtual stagnation of 0.5 per cent to a high of 7.1 per cent in 2007."
}