Lusaka, September 27, 2019
Following the Minister of Finance’s budget speech on 27 September CUTS was invited to present its views at the annual KPMG post-budget gala dinner at the Intercontinental Hotel. The panel that was moderated by Godfrey Mutizwa (who also featured at last year’s event) and the discussants included Chenai Mukumba, CUTS Centre Coordinator, Sokwani Chilembo (CEO Chamber of Mines), Leonard Mwanza (CEO Bankers Association of Zambia) and Chipego Zulu (Vice president Zambia Association of Manufacturers).
There was a candid panel discussion and in discussing the predicament the Minister finds himself this year, Ms Mukumba quoted Professor Oliva Sassa’s jibe at the budget dubbing Dr. Ngandu as the “Minister of Finance without Finance.” She highlighted that the fact that only 10 percent of domestic revenues is what the country has to spend on expenditures after debt payments and salary payments is putting Zambia in a precarious situation and soon we will all begin to feel the pressure.