Govt. postpones budget presentation

Filed under: Breaking News,Business |
863 Views

Government has postponed the presentation of 2017 National Budget by the Minister of Finance to Parliament. The Budget, which was scheduled to be presented to Parliament on Friday, October 14, 2016 has been postponed to a later date yet to be announced.

According to a Press statement signed by the Ministry of Finance Spokesperson Chileshe Kandeta, government is taking it’s time in consulting on relevant  stakeholders in helping the Ministry formulating economical recovery and stabilizing polices.

“The 2017 National Budget will, therefore, not be presented this Friday, but on a date to be announced after exhausting consultations with stakeholders, Ministries, Provinces, and Spending Agencies in formulating economic recovery and stabilisation policies which will be announced in the 2017 budget address,”  Kandeta said in a statement.

He said to facilitate revenue related consultations, the Ministry, several months ago, issued an invitation for stakeholders, interest groups and ordinary members of the public to submit proposals for Tax and Non-Tax Revenue Policy review.

“The Ministry of Finance is focused on preparing a budget which will be anchored on economic recovery and stabilization. We are, therefore, working very hard to develop an expenditure framework for the next three years going forward,” the statement read in part.

Meanwhile  the Minister of Finance Felix Mutati according to a statement  said the nation will be appraised when the budget will be presented but they are determined to deliver a budget that will be drawn from a widely consultative process.

He said according to Part XVI, Public Finance and Budget, Article 202 clause (3) of the Constitution.

“In a year where a general election is held, the Minister responsible for finance shall cause to be prepared and laid before the National Assembly, within ninety days of the swearing in of the President, estimates of revenue and expenditure for the Republic for the next financial year.”

In this regard, there is a maximum of ninety [90] days following the swearing of the President on Tuesday 13th September, 2016, in which to present the budget to the National Assembly. This is sufficient time for Cabinet to give guidance on policy and program priorities for the 2017 budget and for the medium term, ” the  Kandeta said. 

Facebooktwittergoogle_plusredditpinterestlinkedinmail

18 Responses to Govt. postpones budget presentation

  1. They are waiting for IMF to do the 2916/17 budget for them.With a declining economy revenue collections will fall at a time total expenditures are on the rise. With new Ministries being created all that Lungu knows is spend and spend until cows come home.Becoz the Budget deficit is now so huge total expenditures will have to be cut drastically.Given that the elections were disputed Mutati can forget about Budget support from bilateral and Multilateral sources. The illegitimate Lungu govt will have to carry out austerity measures and reforms which will be very unpopular with the masses.Troubled times ahead!!

    Chirwa
    October 13, 2016 at 8:39 am
    Reply

    • UPND and all Civil organisations in Zambia should write to all donors about Chagwa PF’s human right abuses so that they do not receive any single ngwee ba fikala towards the budget or any other bell out. Let them PF go and lick the Chinese’s asses who know no human rights for more kaloba.

      nDOMBOLA
      October 14, 2016 at 1:18 pm
      Reply

  2. The road sector please! We are suffering in this sector, cash has stopped flowing, road projects neglected now becoming white elephants, contractors and consultants owed huge sums, can’t pay clients and their workers, it’s getting to 12months now, please tell us when this suffering will be over, reason why we want HH, to fix the economy, part of this fixing will be almost automatic as donors, foreign investors will pour in cash. This is serious, imagine you are a contracts manager, project manager but even lotion and soap finishes at home! How is it in other sectors is it green?

    Camukanka Hicamba TH
    October 13, 2016 at 9:22 am
    Reply

  3. The budget in its current form does not make sense. Due to the existing economic situation they have to cut on expenditure deemed unnecessary or the so called stakeholders (IMF) have either demanded cuts in expenditures they think not necessary. Stakeholders may have cut their support significantly for obvious reasons leaving the government in a limbo. Was it really necessary to create new ministries given the limited resources and would stakeholders support such excessive expenditure that goes with ministries. Doubtful.

    Prince Mande
    October 13, 2016 at 9:36 am
    Reply

  4. Kambwili’s size is small.He has a problem finding a perfect fit. Very soon we will hear that he’s………………

    swift change
    October 13, 2016 at 1:20 pm
    Reply

  5. PF OVER SPENT ON CAMPAIGNING AND BUYING JUDGES, BISHOPS, POLITICIANS AND WEAK CITIZENS. MOREOVER, IF GIVEN MORE MONEY, THEY WILL THINK OF CORRUPTING ANGELS AS LUNGU SAID EARLIER ON. IT IS ONLY HH WHO CAN FIX THIS ECONOMY AND NOT THESE THEAVES.

    ZAMBIA
    October 13, 2016 at 3:30 pm
    Reply

    • TRUE ba Zambia!

      nDOMBOLA
      October 14, 2016 at 1:21 pm
      Reply

  6. You all have got it wrong.

    The truth is that Mutati differed with IMF in Washington.

    IMF demanded an audit to verify the extent, maturities, and interest % on loans. IMF has learnt its lesson in Mozambique.

    Mutati could not accede to this loan audit request as there are so many secret loans for defense and road projects due mainly to Chinese.

    Also Mutati differed with the timing of subsidy removal as the burden on Zambians would be too hard to bear.

    So there is no IMF deal !

    Mutati like KK before him has decided to go it alone. He will have a Zambian formulated budget and try his best to balance the books. It will then be up to IMF to join in on the locally devised policies.

    This explains the delay in budget qnnouncement and also the lack of any firm agreement framework coming from the Washington meetings.

    Mark my words, there is no IMF deal !!

    Mutati has to chop $2,5bn off GRZ expenditure to address the fiscal deficit. He has to raise funds to finance $600m in annual interest costs, $600m for zesco and fuel subsidies. $850m for FISP/FRA. And repay road project costs.

    ‘As the Chinese curse goes “May you live in interesting times “

    Apathy
    October 13, 2016 at 5:09 pm
    Reply

  7. Dununa reverse is now taking its real meaning

    king solomon
    October 13, 2016 at 7:04 pm
    Reply

  8. Pathetic Fools, this serves you right. The Zambian people are going to rise against you because of your stupidity.

    Gwembe
    October 13, 2016 at 7:05 pm
    Reply

  9. @Apathy

    I totally agree with your analysis. Its plausible that IMF differed with Mutati and when contacted Lungu, Lungu said just leave it.

    One other thing is that Lungu has caused a huge political risk making the eilling lenders to shy away. Thats why IMF is the only the solution here.

    But if IMF says no then PF cadres have to sokolola the billion they pocketed and start funding the state expenditure.

    If Lungu can demand some millions from his colleagues he stole money with to pay back then I will salute him even he my sworn enemy .

    Lungu please find the the $1billion from your colleagues and see how much respect you will have even ftom us in opposition

    Auditor ‘s office has all data where ,who , when the un invoiced expenditure was done. So go ahead and collect this money by force using your police force.

    Wanzelu
    October 14, 2016 at 1:31 am
    Reply

  10. This is what happens when certain people think they have the monopoly of leadership.This unproductive way of thinking & doing things is finally owning up.Most people have been choosing leaders based on emotions instead of being objective and we are where we are because of this behaviour.I feel so saddened that the “system” keeps imposing leaders from a certain grouping at the expense of national development, for selfish reasons. We are all Zambians and we need each other for the betterment of our Country.

    JUSTICE
    October 14, 2016 at 7:07 am
    Reply

  11. Like Mugabe like friend…..Uko!!!!!

    Best Cop
    October 14, 2016 at 7:46 am
    Reply

  12. It was written and it is still written in black nd white that this country is a sinking titanic ship nd the only hope we had 2 save this ship (H.H a man of great integrity and brilliance) has been denied his proclaimed victory by a bunch of greedy unscrupulous crooks who have no hearts for the majority of poor Zambians. Unless we find a way of throwing out this useless dictatorial leadership of the P.F we shall not survive the cold waters of the oceans when the ship has all sunk.

    B4HH
    October 14, 2016 at 8:16 am
    Reply

  13. Which integrity in HH.The idiot that privatized the goverment institutions and got away with the purse.That spineless sadist who grabbed land from defenseless poor peasant farmers.Given chance the idiot would evict all his perceived non dundumwezies to caves.Our Good Lord Jesus is with us and we shall overcome like the way we concurred UPND.

    Chintuchilumbamopo
    October 14, 2016 at 3:23 pm
    Reply

  14. No vision no plan therefore budget is not priority it can be put off indefinitely. After we will spend the money even without a budget and on instructions from the Head of the PF gang. This is PF for Zambia.

    Choongo Mulenga
    October 14, 2016 at 3:58 pm
    Reply

  15. @chintuchilumbaniopo ; You are an idiot you fool!! Banoko ichinyo. Why are you not sending hh to jail if you have evidence to those useless and stupid accusations????

    MATIAS CHIKAMBA
    October 14, 2016 at 10:16 pm
    Reply

  16. Apathy and you Wanzelu… Following closure of the Watchdog, we are starved of data. Thank you so much for your submission.
    The IMF put about 10 conditions for Mutati, they were ten tough ones, among them were governance conditions. IMF loans are highly attached to governance matters. Does Washington recognize this Lungu govt? No! As far as Obama and the UN are concerned there is no govt in Zambia yet. So they will lend to who? IMF is waiting for a legitimate govt in Zambia to be put in place. Further, and for your info, there is a certain BIG GUY in Zambia, a Zambian, VERY INFLUENTIAL, A PUBLIC FIGURE, KNOWN TO ALL, he happens to be part of decision makers at IMF! the BIG GUY does not belong to the PF! He is highly anti PF! Is pro UPND! Now count your cards, PF stole HH’s election victory. Then their only solution is IMF!!!!! What do you think? Would by any chance Mutati come back smiling? NO WAY. the BIG GUY just wouldn’t let the PF have it easy. It’s gloomy for PF, the people will attack them for a high cost of living, and then there’s the UPND election petition already hammering them! A likely way out for PF is simply to disband as a government and let those who won rule. Then the IMF can be expected to relax their conditions.
    The general public may also wish to know that the UPND petition is doing the PF badly, the end to PF rule in Zambia is no longer about election 2021, it is hinged to the UPND petition. Take it or leave it.

    Camukanka Hicamba TH
    October 16, 2016 at 9:04 am
    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.