Technically it’s not a budget, it’s a wish list because it’s based on us borrowing almost 50% to finance it.
UPND government is playing to the gallery and has also failed to show how Zambia Revenue Authority-ZRA will earn it nor is it anywhere near our “depleted” reserves nor our non existent coffers as President Hakainde Hichilema proclaimed.
In paragraph (25, 144) the Minister indicates that ” the level of our fiscal deficit and debt is unsustainable” as we stand at $14.71 billion external debt yet he goes ahead to present a $ 10 billion (K 173 billion) budget to be financed grossly through more borrowing from the IMF as indicated in paragraph (178).
What is disheartening is that the total revenue target from ZRA is a paltry K96.8 billion for 2021 so the K81.2 billion will be borrowed!! That’s almost half the budget.
This budget is a dangerous wish list that will not only plunge our country into deeper debt but auction our country to the slave whilms of the IMF.
It’s time we became responsible and earned our own money from our abundant resources STOP this incessant borrowing! It is keeping us in poverty.
The wise make a budget based on your revenue capacity, not our neighbors pocket, it’s that simple.
As Economic Freedom Fighters-EFF, we will soon make available a budget that can navigate us across these potholes.
The 2022 UPND budget is a dangerous wish list meant to excite the gullible yet it’s ramifications are worse than where the PF has left us.
Kasonde Mwenda C
Economic Freedom Fighters-EFF President
This budget only non thinking heards or brains can celebrate , making a budget from empty coffers as this crooked president said , really does it make any sense to any one celebrating, no it doesn’t since there no wheels to drive the money to come in , to come in since we don’t have anything in our coffers.
I would say to any one who is exited where is the money, where is the money you are celebrating!
No Zambia doesn’t have the money ! but they have to go and get kaloba, Kaloba to kill Zambians from hunger and common hardships.
IMF cannot lend us money to throw around to Africans to enjoy, but money to bring a thousand forth as we lose our minerals in our soils which they will take freely.
If IMF was so genuine why haven’t they helped our neighbors in Malawi who are worse off economically with huge borrowed loans to revamp their economy.
Malawi doesn’t have anything they want to take but Zambia has gold, etc.
From my own point of view this budget will cause more problems for Zambia than solutions, if this minister of finance had first considered the Euro bond 4.3 billion due in 2022 , and the existing 11billion , before he announced the seemingly brightest budget , it is all mockery to say the least.
This borrowing now shows how this government is not serious with settling the debts.
This government is adding another 20billion dollars in five years ,,, to the only already 11billion dollars borrowed in 10 years.
To those possessed with the spirit of HH , they cannot see it coming as they living in their denial house and locked up into pipe dreams.