Zambia is not in a debt crisis – Oliver Saasa

September 10, 2018

Economist Oliver Saasa has called on Government to set up comprehensive policies that will help address the widening fiscal deficit. Professor Saasa however noted that the country is not in a debt crisis.

He has since called on Government to constitute a team of professionals to find a lasting solution to the debt problem. Professor Saasa was speaking at a media briefing in Lusaka today.

And Consumer Unity and Trust Society (CUTS) Centre Coordinator Chenai Mukumba said the debt has had a negative impact on the ordinary people.

And Jesuit Centre for Theological Reflection (JCTR) Director Emmanuel Mumba said social sector spending is being compromised by the debt.

Meanwhile, Government has projected to roll out a K84.6 billion national budget for the year 2019. According to the government’s Green Paper released last week ahead of the 2019 national budget presentation, Zambia’s GDP has been projected to grow to over K300 billion next year, up from K277 billion last year.

Government has also projected a total revenue generation of K55.8 billion, representing 18.6 per cent of GDP.

President Edgar Lungu will this Friday officially open Parliament. The head of state is expected to explain government policies and intentions.

And on 28th September Minister of Finance Margaret Mwanakatwe will present the 2019 budget in the house.

Reported by Lusaka Times on: