By Amb. Emmanuel Mwamba
It’s good that Economic Association of Zambia (EAZ) has called bluff, my dear brother, Dr. Lubinda Haabazoka’s statemnt and rating of President Hakainde Hichilema’s so-called fiscal discipline of 9/10.
This is because;
1. After debt restructure, Zambia is paying more money in debt service, of about $1billion each year for the next few years. Is this prudent?
2. The corruption, the wastage, the theft and literally plunder of national resources as shown by the Auditor General’s Report.
3.FINANCE and National Planning Minister Dr Situmbeko Musokotwane presented a supplementary budget of K33.6 billion ($1.5billion) to the National Assembly. Why supplementary budget?
Dr Musokotwane said out of the recommended K33.6 billion, K11.0 billion had been allocated to Loans and Investments for dismantling outstanding fuel arrears. This is after Dr. Musokotwane presented a K217 billion ($9.4billion) 2025 national budget that was designed to cater for all matters including the main items that re-appeared in the supplementary budget.
4. The Financial Intelligence Centre (FIC) detected $3.5 billion in suspected illicit financial flows during 2024 and a higher number in 2025.
5.Parliament opens on Friday 12th September 2025 to Friday, 15th May, 2026. Musokotwane is expected to present another National Budget,the 2026 Budget. This is a 245 day or eight month window before Parliament is dissooved and we go to general elections.
I see panic and public resources will be directed to popular things that can make the governmentfavourable in the upcoming elections and fiscal indiscipline will be at its worst.
So where is the fiscal discipline?
