By Chileshe Mwango
Finance Minister Situmbeko Musokotwane has clarified that the expected debt government will acquire is only $150 million and not $2.4 billion as alleged by some stakeholders.
And Dr Musokotwane has dismissed allegations that the new dawn government intends to over borrow to finance this year’s budget as alleged by some stakeholders who include the former ruling party pf.
Speaking at the budget review meeting hosted by the Zambia Institute for Policy Analysis –ZIPAR- in Lusaka today, Dr. Musokotwane says of the usd 2.4 billion being referred to, usd 700 million is money to be used to service the Eurobond acquired by the previous government which matures next year.
Dr. Musokotwane also explains that the other usd 750 million is money that has come from the International Monetary Fund –IMF- as Special Drawing Rights-SDRS- while usd 400 million is for the completion of projects embarked on during the previous government which should be completed as they are at advanced levels where they cannot be abandoned.
At the same event, United Nations Resident Coordinator Coumba Mar Gadio has welcomed the positive developments that have come with the budget announcements – towards free education, women’s and youth empowerment and investments that will support the most vulnerable to name but a few.
And ZIPAR Executive Director Herrick Mpuku says the estimated 3.5percent economic growth which comes after a slump in the economic growth in 2020 and a projected 3.1 percent economic growth for 2021 is still attainable.
PHOENIX NEWS