IMF WANTS ZAMBIA’S FISCAL CONSOLIDATION TO BE REVENUE DRIVEN
By Tellah Hazinji
The International Monetary Fund -IMF- says there is need for Zambia’s fiscal consolidation to be revenue driven.
Speaking during a public lecture on how Zambia can achieve an inclusive and sustainable economic growth in Lusaka last evening, IMF Zambia Representative Eric Lautier said the country’s revenue has been going down over the years, forcing government to bridge the fiscal balance by adjusting its expenditure.
Mr. Lautier says the country cannot keep adjusting expenditure to attain fiscal balance owing to inadequate revenue, saying this needs to change for Zambia to attain meaningful economic growth and development.
He says it is also important to increase revenue in order to build domestic fiscal space and reduce dependency on borrowing and foreign aid.
And Mr. Lautier says the goal of Zambia’s debt restructuring is to give the country the breathing space in priority sectors.
Meanwhile, UNZA Dean for Humanities and Sciences Professor Jacob Malungo says policies such as management of high interest rates for infant industries and capitalizing small and emerging industries need to be relooked through dialogue with government to achieve an inclusive and sustainable growth.
PHOENIX NEWS
Imwe ba IMF stop bullshiting us with slang terms. Be specific and say that Zambia needs to buy and run companies cos profit or revenue only comes from a company making profit. Tell us that we need to open Government owned mines and must be run profitably. Not the old nonsense of Government does not run business, when the British monarchy owns Zambeef. When the UAE , Saudia Arabia digs and sells its own oil as Government. Atase! Stupid w0hite monkeys