Africa-Press – Zambia. I will be very brief and none technical on our expectations or rather the challenge the Minister of Finance faces.
If Personal Emoluments (PE) is at around 55% of the budget and debt service is around 35% of budget. The two add upto 90%. This simply means we are only left with 10% to run other recurring government operational and capital expenditures.
So simply put, what significant development agenda do we expect from 10%. The only way out is to borrow more externally to fund critical projects like 3 months extension of IMF program
UPND celebrates new recruitment in government sectors, but only adding PE cost which they are struggling with. For an economy to thrive, you need seriously private sector participation, particularly local business. With UPND private sector participation equals foreign companies.
No hope in 2026 budget. We do not anticipate anything significant.
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