EAZ EXPECTS GOVT TO INCREASE DOMESTIC REVENUE FINANCING IN 2025 NATIONAL BUDGET
By Leah Ngoma
As Finance and National Planning Minister Situmbeko Musokotwane presents the 2025 national budget this Friday, the Economics Association of Zambia-EAZ expects the budget to place a strong emphasis on increasing domestic revenue financing, aimed at reducing Zambia’s dependency on external borrowing.
EAZ President Oswald Mungule says this is crucial for improving the country’s fiscal sustainability, especially in the context of its current unsustainable debt levels.
Dr. Mungule has said in a statement that the association advocates for the government to target domestic revenue contributions of at least 80% of the total budget.
He says this would involve expanding and diversifying the tax base through progressive measures that capture revenue from a broader spectrum of the economy, including previously under-taxed sectors.
Dr. Mungule further emphasizes the critical importance of focusing on energy, mining, agriculture and manufacturing sectors to drive economic recovery and growth.
Meanwhile, the National Action for Quality Education in Zambia-NAQEZ hopes to hear how the government will fix broken promises in the education sector, decisively focusing on the all-important sectorial issues that remain unresolved.
NAQEZ Executive Director Aaron Chansa recalls that
in October 2022, during his presentation of the 2023 national budget, Dr. Musokotwane promised to upgrade salaries for teachers who had attained higher professional qualifications, a promise which sparked widespread enthusiasm among teachers, but to date, these upgrades have not materialized.
He says this and other unfulfilled commitments in previous budgets have negatively impacted teacher morale, affecting their dedication to the teaching profession.
PHOENIX NEWS
