Bwalya Ngandu

2021 NATIONAL BUDGET INVALID AND USELESS DUE TO ZAMBIA’S FAILED FISCAL AND ECONOMIC POSITION
By Logic Lukwanda

Financial Analyst Trevor Hambayi says the 2021 national budget has been rendered invalid and useless due to Zambia’s deteriorated fiscal and economic position.

Mr. Hambayi explains that this is because Zambia cannot borrow anymore from outside because of defaulting on the payment of US$45.6 million Eurobond loan coupon last week Friday and other factors.

Speaking at the Economics Association of Zambia –EAZ- Economic Forum dubbed “Zambia’s economic situation analysis, the way forward”, last evening, Mr. Hambayi said this is being compounded by poor financial management and lack of transparency in Zambia’s debt by the state.

He is of the view that some of the solutions to the challenges the country is facing are to stop wasteful public expenditure, restructure Chinese debt and improve the investment climate and privatize state owned companies that are continuously making losses.

And speaking at the same forum, Zambia Chamber of Mines Chief Executive Officer, Sokwani Chilembo said Zambia’s private sector is on the edge and the mining sector has been left in an awkward position such that there is no expansion in investment due to lack of attraction of capital injection.
PHOENIX NEWS

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