United Party for National Development (UPND) President Hakainde Hichilema has said that the the 2016 budget presented by Finance Minister Alexander Chikwanda does not inspire anyone. In a statement made available to the media, the UPND leader said that as much as the budget appears to have increased, it is actually a reduction in real terms on last year’s because of the 40% depreciation of the Kwacha.
Below is the full Statement
Budget Note: National Budget 2016
The 2016 budget presented by Hon Alexander Chikwanda fails to inspire anyone. The failure to inspire is as a result of the fact that it is blatantly skewed towards the Executive and proposes little that will materially improve the situation of the majority of Zambians who have seen a marked decline in their standard of living in recent months.
For starters this budget, much as it appears to have increased, is actually a reduction in real terms on last year because the kwacha has devalued by 45% since then. Thus the purchasing power of this budget is nearly 40% less than last year’s budget. What do we mean? Last year the budget was ZMW46.7 billion (US$7.4 billion) while the ZMW 53.1 billion for this year translates to only US$4.6 billion. In a country that imports 80% of what it consumes, even down to the bitumen we use for road construction, the question is how will we pay for all these goods and services?
When one analyses the budget speech and the Yellow Book, the theme does not seem to be properly represented. In fact, “Fiscal Consolidation to Safeguard Our Past Achievements and Secure a Prosperous Future for All”, is a far cry in this dispensation. How have they killed our past? Simple. When the PF arrived in office the external debt was US$1.1 billion, it’s now at US$6.3 billion, while domestic debt has doubled from ZMW13.8 billion to ZMW26.5 billion. The result is we are now condemned to spend more each year on paying the interest on our debts than on vital areas such as healthcare. For example, the 2016 budget has allocated ZMW 7.1 billion to service external and domestic debt interest, but only ZMW 4.4 billion on health! To therefore say we safeguard our past is an insult to the intelligence of the Zambian people who are much wiser.
In addition to the high interest payments, questions remain regarding the creation of a sink fund. We are not sure how this will operate, but if the idea is to grow it to US$750 million to pay off the first bond, we need to be serious in how we invest that money. If it ends up with cadres again, we are not safeguarding our future at all.
There is also no demonstration that this budget will reduce on expenditure aimed at consumption. There is not a mention of that in the current budget. To therefore claim that the budget deficit will reduce is an over statement by the Minister.
The specifics:-
The Economy
The Zambian economy needs to grow at over 10% in order to make any meaningful gains. This growth must be derived at least in part from agriculture, primarily because 80% of our people are employed in the sector and the potential for the expansion of value-addition sub-sectors, as well as productivity increases, is clear. The next sectors that must be targeted are the manufacturing and energy sectors. This is how we thought this budget should have been structured.
Agriculture
Our expectation was simple. We expected the budget to address the value chain. This means from production, through value-addition and all the way to the market. Crop productivity is not as a result of over reliance on maize, it’s often because of poor agriculture practices due to lack of extension services, in addition to the late delivery of inputs and payments by government and the FRA. In some instances all farmers need is to be educated on the type of seed to use to makes a difference. We therefore expected that the Minister would propose the reinvigoration of extension services coupled with a stable agriculture marketing system backed by law. For a long time our farmers have been at the mercy of exploitative businessmen who have taken advantage of the FRA that fails to pay farmers on time.
Of the over 2 billion kwacha allocated to agriculture, less than 1% is dedicated to extension services. The rest is FISP and Grain Marketing. What is interesting is the level of investment in irrigation, which has IDSP whose product is aimed at commercial farmers. When will government attend to the poor people of Zambia who are most in need of support?
Energy
Zambia currently has a huge power deficit. Our people are very depressed that the Government, which claims our situation is an act of nature (drought), can still go back to the same power generation means (hydro). All the pronouncements made by the Minister sound logical and good on paper, but we are faced with an el-nino phenomenon this coming season. That implies a drought, how then will these power stations run?
Our expectation was that more incentives would be given to alternative energy producers. We are still talking of non-renewable energy such as Kenya’s 5-year project to develop a 1 Gigawatt (1000 Megawatt) solar power plant. What is fundamentally different between Zambia and Kenya we ask? The important differences here are that they have two things, the first is a robust private sector and the second a cost reflective tariff. As long as Government, through Zesco, continues making an offer price that is less than the market price, to Independent Power Producers (IPPs) there will be no uptakers in this sector and we shall continue to struggle with power production. What we expected were real incentives, not cosmetic measures such as the ones announced in the budget.
Manufacturing
This, according to our manifesto is a top priority. Manufacturing does not just mean mega factories, but it can even mean small cottage industries that add value to our products. We have in mind agricultural produce as a starting point. There is no justification for Zambia to import peanut butter or long life milk for example. These are products that can be manufactured here in Zambia as long as proper value-addition strategies, such as financial products and market linkages, are put in place. Zambia cannot be importing what it eats when we have a hardworking cadre of farmers that can produce nearly all the products that we see on the shelves of multinational supermarkets.
Tourism
We can tell the Minister upfront that Zambia’s tourists should not only be considered to be those who use aircraft, but also the 15 million Zambians that live in Zambia. To therefore mention that we will have a national airline as a way to promote tourism is missing out on this huge tourist cadre. What we need in tourism is to start developing products for the Zambian tourist as well. This could include financial products, and tax incentives on hotel and tourist facilities that take in Zambian tourists. The focus must be on sustainable and income generating tourist products, not a national airline when airport upgrade projects are still running well behind schedule.
Mining
Commodities go through cycles all the time. What is clear, however, is that Government has failed to capitalise on the years of high copper prices, as well as to plan in advance for a downturn that could have been anticipated. The sustained high copper prices from 2006 were driven largely by a single user; China. Despite several warnings that the economy of China was beginning to overheat as early as 2009, the warnings were largely ignored. We should have shored our economy against this hiccup. One way was to immediately embark on diversifying the economy and developing industries that produce import substitution. To try to “fatten the cow on the marketing day” is highly unlikely to achieve the intended results.
Our advice is this; let Government provide incentives to the mines to ameliorate the dual situation of poor copper prices and most importantly load shedding. What has caused the strain on the mines is load shedding more than anything else. In the 90’s copper was selling for less that US$2,000 a metric ton. But the mining companies largely survived. The PF took over when copper prices were at US$8,300 prices. Where were they to now start talking of diversifying from copper?
Education
The Minister intends to continue building infrastructure. There is something wrong with this approach to quality education. Education can happen anywhere, actually in developed countries there have what they now call home schooling. The reason is simple, populations grow and the Government can only provide so much infrastructure.
What we expected from the Minister was to allocate money to quality education and education that imparts skills on the learners. But what is even worse is that the education budget has been cut by ZMW290 million. What this means is that the education budget in purchase power parity is down by over 40% given the kwacha to the dollar has slid as much as 45% from this time last year. Our expectation was again that there would be student loan reform and increased involvement of the private sector in this issue. Students need to be sponsored, and the amount allocated is not going to solve this problem.
Health
Again this issue has been reduced to infrastructure development. Health economists will tell you that it’s cheaper to prevent illness than to cure it. That is why the adage prevention is better than cure applies here.
What we expected again was health care reform that includes a robust national health care insurance system. The shortages of drugs in hospitals, the shortage of human resources cannot be resolved by building more hospitals. We can run a successful health care system if we address primary care. The people sleeping on floors at UTH and other major hospitals can be treated at primary care level hospitals if only they were functional. This is what we expected the PF to do, not a story of infrastructure only again.
Conclusion
As we stated at the outset this budget is not pro-poor. The Government has taken away from social sectors an amount of 7.1 billion (13%) that would have been used for investment in order to pay interest on debts that have delivered little material benefit to the majority of Zambians. They are anchoring the health of the economy on an out-dated method for calculating debt sustainability. We cannot be looking at GDP when we do not have a mechanism for collecting taxes due to us. We can tell you now that this budget will not do anything to the high poverty levels experienced in this country. As a matter of fact we shall have a poorer Zambia and yet more hunger by the time UPND takes over Government next year.
“Together we can”
Hakainde Hichilema
UPND President
The classic know-it-all spits again…it sounds sweet in theory bla bla bla
Better have a know-it all than a know-nothing we currently have in State House. The consiquence of having a know-nothing is the depreciation economy that we currently have in Zambia..
No nigga, show us why what he has written isnt practical? All things start with thought, an idea.so what is wrong with 2H doing this? Imwe fyonse mufwaya ukukopa ngabachita first abanenu olo abasungu, thats when you say it can work. nomba ninshi bena ebo mukopa, bakopela kwisa? nimwe abena rizzo that are killing us. argue and justify why you think his ideas are no practical and maybe we can all go back to the drawing board and rethink other ways of doing things. atleast he is offering alternatives and not just taking in the usual docility prescription pill as offered by the govt.
Another classic. HH shows how it is supposed to be done. Tourism is a good example,How can thePF govt be banking on creating a national airline just for the sole purpose of international tourist arrivals when you could easily organized locals to improve occupancy of tourist spots. We could even do a commercial traditional ceremony circuit to be attended by 99% locals and generate revenue.
Can PF come up with immediate solutions like this? They are thinking of 2064 when the economy is in ICU at UTH.
President HH must not shun prayers on Sunday, otherwise his image will be less in value than that of today.
Lets hope he won`t be talking about politics on Sunday.
Zambia does not need a politician now, but prayer,prayer,prayer………………. Let God arise and His enemies be scattered.
No. 1 above (Rizzo) – I don’t think HH is being a clever clogs, he is offering real solutions. Please heed the advice.
Last year the budget was ZMW46.7 billion (US$7.4 billion) while the ZMW 53.1 billion for this year translates to only US$4.6 billion. In a country that imports 80% of what it consumes, even down to the bitumen we use for road construction, the question is how will we pay for all these goods and services?
Well said HH.
Last year the budget ZMW46.7 billion (US$7.4 billion)
This year budget ZMW 53.1 billion is only US$4.6 billion.
Budget yagwa
Chagwa agwa
@Rizo
So base is your comment that it doesn’t deserve responding to.
The statement is a were research and thought through. A nation can only move forward in modern times if its leaders and citizens are strategists. Anything less than being strategic is bound to fail and is the class issues Zambia is facing today. It is possible for anyone to borrow him/herself out of poverty unless the loan is meant for productivity and later it pays itself. PF thinks a loan can be obtained to contain a consumption issue only later to be paid a sinking fund which has no backbone to support its creation.
That’s Hakainde the Great for you. Talk about steel balls!
Viva UPND, Viva HH.
@Sumba even what you have written counts as a comment…semantics kikikiki
@ Rizzo I understand you its not your fault… those three sangomas and KK ba usinger ikali they manage to blind fold more than half the Zambian population… even when its clear than the government has failed we still can see!!
That is my 2H…my president for the period 2016-2026!
HH is my president, indeed the president has spoken!
Only a person living in Kuku land can fail to see the issues highlighted in this article. You want to pretend and yet you`re suffering and living in the dark half the time. Yes it`s lets build structures but what happens when you have a structure and no one to man it?. In short, there must be a balance between investments in infrastructure and investments in social amenities. A building will not attend to you when you`re sick but a doctor or nurse will do so. better still the availability of drugs in these empty structures. These empty structures need teachers to teach PF carders to see the invisible sense in statements such as this one from HH. Am not UPND but here I agree with HH. Chikwanda is day dreaming. N-way let people suffer until they wake up from slumber. Nothing is more…
HH now this is what am talking about, offering solutions… Keep it up.! I have been a critic of UPND not because of am Pro PF but because you (HH) never use to offer to solve problems up until now. This is what I have been waiting for. Not the ”I will tell you what can be done once am elected president” attitude. It’s like going for interviews, they ask you what will you do differently should we employ you and your answer is ”Employ me first then I will tell you what I can do to turn things around”.
This what you HH and UPND must adopt as a message for your campaigns and stick to it. One last word of advice, tell your supporters to stop insulting everyone who disagrees with your message.
Good luck, you will need it come 2016, I don’t how you think you will win but…
Some Grey matter is served for all Zambians again
I don’t support this cattle keeper but I think he has made some constructive noise here. Whoever wrote this him did a good job.
HH will always find flaws in anything done by the PF. I cannot even bother to read what he has said. It is all trash to me.
The best way to hide information and keep them ignorant is to write it down.
YOU ARE A CLEAR EXAMPLE
It is because the thinking in PF is flawed!
@toni, I also wonder, has HH ever said anything positive?
Like him or not there is sense in what this guy is saying and so far he is the only politician who can articulate issues of the economy.
@ TONI or whatever you call yourself,if you have nothing to say better yourself better you shut up and keep your ignorance to yourself. You can’t just be masturbating in public like that.
DORA SILYA- ENERGY MINISTER
In his quest to share corruption with his new girl friend, Edgar Lungu has appointed Dora Silya as Energy Minister leaving alot of PF Members.
…such reactions are the norm in any democracy….you can actually ask major opposition parties worth the salt to make a comment after the very first budget is presented….all you will get are comments like…its useless….lacks merit…etc. So in Five years, foe every budget presented, you may not need to interview them again for a comment…just play back your pre recorded comments on the first budget…you are guaranteed it will be similar or just the same….I can’t wait to hear comments from Nawakwi….ofcourse on similar lines as the above article…..
….that aside, the article has been well thought…it brings out certain parameters which makes ABC sit up and curse himself why he never saw that….ABC should swallow his pride and adjust accordingly….. Other wise the…
cont’d…
……otherwise it wont add value in any way apart from readers having something to ponder about….
…how I wish such an article trickled down to that aunt of mine at city market…that mini bus conductor nephew of mine…that taxi driver cousin of mine and that uncle of mine at the village….these are people who make a difference when it comes to voting….
flight HH2016 u have my vote
This HH guy is good at destroying, not building. During the ill-fated privatization programme, he wantonly participated in the sale of companies, for a song; Luanshya mine was one of them. So, that is why he thinks it’s not possible to create jobs. All he has done is to steal from the poor, under the pretext of privatization. So, he will never like anyone who wants to do something progressive for the masses. Deep down his heart he knows that it’s the despicable privatization he and other criminal elements participated in, which has brought most of the current economic ills, such as high unemployment and weak manufacturing base, he is talking about. Let him tell us why Colgate Palmolive, Refined Oil Products (ROP), LENCO, Premium Oils, Dunlop, Zamhort, Zambia Airways, UBZ, CH, Rover
@Nostradamus
There was this notorious boy at school who would fart and point at some girls as culprits…lol,
Who privatised the the State Owned Companies or Parastatals? Hear this and hear it very good: the mines were privatised by the MMD government under President Chiluba through the Zambia Privatisation Agency now transformed to Zambia Development Agency (ZDA) under Ministry of Trade, Commerce and Industry.
Who participated in the privatisation of the mines. Various professional bodies such as lawyers, accountants, valuation surveyors participated.
The major benefeciaries of providing valuation and management advisory services were Deloitte, Peat Marwick and PriceWaterHouse. Some crumbs were given to Grant Thornton then managed by HH.
So stop misleading people that…
The fact is HH is the majority shareholder of Zambezi sun formerly Intercontinental Livingstone Hotel. it was sold for a song to the third bidder! higher bids were rejected on HHs ‘advice’ and self interest opinions. HH used his dubious business minions to acquire state owned properties at ridicuoulsy low prices without declaring interest in the sale. He has on several occasions lamentably failed to accurately answer questions as to how he acquired his wealth. It is stinking dirty money not worth to admire. Come 2016 we shall expose further the rot the makes this Chief Tribalist HH, to finish him politically once for all. Most Zambians are Not too dull to reason logically
@Nostradamus: The argument that HH was so powerful to sell all industry in Zambia is so shallow and deceitful. Where was Government? HH is still alive, why hasn’t the ACC, the Police, or even the Zambia Defence forces arrested him for selling Govt owned parastals? Lets not mislead innocent people for the sake of Political expediency. Zambia is where it is due to blind cadreship.
Comment:Perfect thinking Mr President.
I dont understand people who are always negative on things as this one. if you critic ideas as the one from His excellence HH, then am sure one has no hope of living and seeing a better Zambia tomorrow.
Now can UPND show us their Budget hidden in some briefcase somewhere rather than just criticise. Mazoka would have released his budget by now. MHSRIP
Uli Kamunofu chachine. You mean you did not understand the drift of the alternative budget. HH is the leader of UPND. He has given a general policy direction on issues that are not adequately addressed to alleviate the suffering and improve our economy, the Technocrats can interpret and map out the route, the hands on guys can do the work. That is how successful companies (read economies) work; clear strategic plans (what needs to be done, goals, resources, empowerment etc) by a well balanced Board with an astute Leader, broken down to tasks and timelines on the plan by qualified technocrats not cadres and implementation by the shop floor (dedicated workforce, consumers – you and me) with proper up and down linkages – a well coordinated system and well lubricated machine. eg on health;…
@ Nastrodamus don’t let him tell us? If you are not clear about what happen on the issue of privatization you are free to take him to court. You can’t just be masturbating your ignorance in public like that. You are actually a wasted sperm. Your father must be regretting having given birth to an ***** like you.
Am just waiting for Sunday Chanda and Chishimba Kambwili to come out and parade their ignorance again
AS LONG AS U REMAIN NEGATIVE IN EVERYTHING TO THE PRESIDENT OF THE DAY U ARE EVEN MORE USELSS THAN THE ONE U ARE CONDERMING BCOZ U CAN’T EVEN SEE POSITIVES IN ANYTHING GOVT IS DOING.REMEMBER,ITS NOT PF WHO MAKE THE BUDGET ITS A COLLECTION OF DATA & QUANTIFICATION FROM VARIOS MINISTRYS TO FACE AVALABLE FUNDS.IF U THINK U WILL START WRITING IT AT HOME TO SUIT PERSONAL NEEDS FORGET.
HH has not shared any original thought. What he has done is just to rehash the statement produced by Fitch when they presented an analysis of the 2016 budget!
Under 5, doing me too again!
Hahaha, the goal post has suddenly changed again. Is this not the same HH who has been refuting that loadshedding is not as a result of low water levels and some people can blindly praise HH ati he has provided solutions?
Well, we call it brain washed tribesmates!
HH must resign as a leader because he is a big liability.
The so called analysis is exaggerating the extent of the dollar component of our economy and budget.
His whole argument is based on a weak assumption that all our national expenditure is dollar based and we only use kwacha for reporting purposes. That is far from the truth, and I will show you how.
If we use the import figure proportion of the economy as a rough measure of the extent of the dollar component, we get to 28% ($8b/$29b). This would mean that the fall in the kwacha would only impact 28% of our budget!
Not the 100% of the budget that HH is talking about. That is why, for example, certain sectors of the economy would feel the full impact, if any, of the kwacha movements.
I should have expected a more reasoned argument than what he has presented.
Yeah, like the mining sector which funds the bulk of your revenue or imports of most of your essential commodities or drivers of your industry – oil for example, even the maize you might say is home grown requires fertilizer part of which is imported, farming equipment. livestock veterinary drugs-imported, hospital drugs nothing local, educate me if there is a local drug manufacturing company. So what % sector of the economy does not feel the full impact of the dollar – kachasu brewing? or now that we have given an incentive for Castle Lite beer production locally?- CHEERS beer is all that we know!!
You also have to realize that because the kwacha has depreciated alot of other things have affected. Even locally the buying power of the kwacha is not the same, it has a lower value now. The dollar hasn’t only affected the Good and Services we obtain from outside but also internal. You’d be surprised that a business that is entirely dependent on materials and services that are internal to the country are facing increased production costs and these are passed on to the consumer. The depreciation of the kwacha has a ripple effect.
Meant to say …..would not feel…..
PF cadres amaze me even a straight forward article like this one they want to argue. Yet it makes sense to them to appoint Dora who they claimed was corrupt as energy minister. Please please grow up.
The thing with HH, he is a good businessman and would make a good Minister of Finance (or other portfolio that concerns economics) but his personality is not appropriate for President. Mazoka had the intangible “something” that you need, but not HH unfortunately. That’s why people say he is too egotistical – he will stubbornly remain in the top spot at the expense of UPND’s success. If he could step aside and be part of a team, there would be a diffrerent outlook for UPND – he could even be in government right now if he had less of an ego
I read the entire statement and in all fairness, HH knows what is supposed to be done to our ailing economy for it to be on the right path. I hope my name sake will copy and paste this somewhere. Very impressed indeed ! Keep it up HH
Bwana HH amesema ukweli hapa.Shame that Kenya has a budget $22bn with no mineral wealth but Zambia with all our copper and arable land bajeti yetu ni $4.6bn.
Aibu hii kubwa sana.
HH: The Economy sh’d grow at more than 10%.
Fair enough, but ABC is giving what can be achieved given the current resource envelope. +10% is desirable, even more, but to target that growth, U must have the money to back it. That is currently not available.
HH: All the pronouncements sound goodo n paper, but how will these power stations run without water?
ABC mentioned that the plant to be commissioned in January will be run on coal and add about 100mega watts in addition to other plants leading to Z returning to a net power exporter as early as next year.
HH: Kenya has a robust private sector (own goal), & a cost reflective tariff to attract private sector investment in the power sector.
ABC indicated that Zesco had proposed an increase in tariff for the same reasons…
HH: Kenya has a robust private sector (own goal), & a cost reflective tariff to attract private sector investment in the power sector.
ABC indicated that Zesco had proposed an increase in tariff for the same reasons. Needless to say that will increase bills for ordinary citizens & rise in prices. How many will afford?
As for a robust Pvt Sector, isn’t this a bedroom issue for HH & GBM? He wants EL to make them robust? Aren’t they the tycoons we have? Or is it riches on paper? Derivatives???
HH: Zambia sh’d produce peanut butter & long Life milk so long as proper value addition strategies are put in place.
By govt? Aren’t they the people who say Govt has no business in doing business, they must leave it to the pvt sector? How then sh’d those strategies come from govt?
If…
If he meant policies & incentives, we can understand.
HH: In Tourism we need sustainable & income generating products not a National Airline.
Again, is it govt or the pvt sector to come up with those products? Govt can only offer support by facilitating arrivals through infrastructure (roads, airports, YES, and even Airlines), things which our small businesses cannot afford.
HH: Government sh’d have diversified the economy away from copper to industries that produce import substitution.
YES, that’s what govt was hoping to achieve by opening up the country through road access to make resources easily accessible such as arable land, water, low quantity but high export yielding gem stones etc.
In conclusion, in all his wisdom didn’t he see anything good in this budget worth…
In conclusion, in all his wisdom didn’t he see anything good in this budget worth praising? Even with a ka disclaimer like Magande who said it looks good on paper, but let’s if it can be achieved. And that from one of the longest Ministers of Finance our country has had? Who is also an opposition leader???
No one has the preserve of knowledge. Govt, Boz, ZRA, & other institutions, have people who are more qualified, & experienced. When U’re in the stands, the game looks easy, until U’re asked to go on the field, then U know…
DO WE HAVE SOME GUYS IN PF WITH GRAY MATTER WHO HAVE NOT SEEN THIS PROBLEM? IS THERE ANYONE IN PF TO RE-CORRECT THIS BUDGET IN PF CABINET MEETING? I WONDER IF THERE IS ANY TECHNOCRATS WHO CAN HELP PF. I SEE ECL WILL CALL ANOTHER PRAYER AND FASTING WHEN GOD HAS ALREADY REVEALED TO US THAT IT IS OUR OWN PROBLEM CAUSED.
ITS IMPORATANT TO UNDERSTAND THE KEY PROCESS ON PREPARATION OF THE BUDGET AND WETHER ITS ACTIVITY OR IN SIMPLE TERMS ”FLEXED ONE” ALL KEY INDICATORS FROM INFLATIONARY TO GROWTH HAVE BEEN FACTORED IN IN CYCLONE TO GLOBAL OUTLOOK
HH WILL NEED TO UNDERSTAND THE REAL AND NOMINAL GDP/BUDGET OUTPUT AND RELATE THAT TO THE “‘GDP DEFLACTOR AS IT WEHERE” HE WILL NEED TO KNOW WHEN TO CALCULATE AND ADJUST FOR NOMINAL OR REAL APPROPRIATELY AND ALSO SEE THE DIFFERENCE IN CPIs MEASUREMENTS AT CURRENT BUDGET PRICES THE FORECAST TOOK CARE OF THE INFALTIONARY THE ONLY THING THAT MATTERS IS OUTPUT IN THE GDP WELL PROJECTED GROWTH
AS FOR THE THEME…
AS FOR THE THEME OF THE ECONOMY ITS CORRECT FROM ITS PARADYME POSITION EXCEPT THAT ONE NEEDS TO UNDERSTAND INTERNAL GROWTH AND EXTERNLY INDUCED GROWTH IN DEBT AND SEE THE REASONING ITS LIKE FINANCING FROM DEBT TO EQUITY WITH DIVIDENDS PAYMENT CONSTARINED FOR FUTURE
LET HH UNDERSTAND GDP DEFLECTORS AND SEE THE STARTING POINT OF DIVERSIFICATIONS GIVEN THE DEBT FINANCING
HE WILL NEED TO SEE THE CONCEPT OF INFLATIONARY DEPRECIATION AND DEFLACTIONARY ELEMENTS IN ABC BUDGET
ITS CORRECT ALSO TO SAY TOURISM BUT WE KNOW ITS REQUIRES INCOME SET ASIDE AND MAJORITY OF OUR OWN CAN ONLY DO SAW IF PLAN CAREFULLY GIVEN THE CLASSIFICATION OF INCOME DISTRIBUTIONS AND SAVINGS WIDENING THE INDUSTRY TO HAVE THE QUALITY OF INCOMES IN THE SECTOR AT THE SAME TIME EXPANDING THE LOCAL IS TWO FOLD AND GOOD
WITHOUT EXPLAINING FURTHER THE ECONOMICS IN THE BUDGET THE BUDGETTING POINTS IN RATES AND GROWTH IS WELL SOUND AND NEEDS TO BE SUPPORTED FOR THOSE THAT UNDERSTAND REAL AND NORMINAL OUTPUTS AND DEFLACTORS TO ADJUST THE SAME
THEN TO ALSO SAY THE BUDGET IS ” DOLLAR ”’ ALL SPENT IS A MISLEADS OF THE WORST TO A LAY MAN HE WILL NEED TO SEE ABC REBALANCING HIS DEBT PORTIFOLIO IN THERE AND SEE HOW OTHER EMS ARE DOING THE SAME AS CHINA MOVES ALONG YOU CANNOT JUST BE FIXED IN STRUCTURAL AS OTHER ECONIMIES ADJUST CYCLICALLY TO REPOSITION EVEN CHINESE GDP CANNOT BE GENERATED ALL INTERNALLY AND SUSTAINED YOU WILL NEED TO THINK ABOUT THE GLOBAL MARKETS IN RISKS AND RETURNS
I REALISE WE NEED TO LEARN MORE ANALYSE MORE AND ASSESS MORE CORRECTLY
WHEN YOU LOOK AT ABC BUDGET TAKE A VIEW ON QUANTITY THEORY OF MONEY FOREINSTANCE AND SEE THE NOMINAL GDP IDENTITY IN PRICE BOTH IN GIVEN THE LEVEL OF INFLATION PROJECTED ‘’YOU SHOULD SEE THE IMPLIED INFLATIOARY AND DEFLATIONARY CREATING THE HEALTHY VELOXITY NECESSARY CREATED TAKING A VIEW OF ZAMBIAS ECONOMIC STATUS ON IN GLOBAL THE ECONOMICS THE STATEMENT ABOVE IS THEREFORE MISLEADING WHEN GLOBAL RATES ARE MOVING TOWARSDS ZERO SUM EFFECT ABC BUDGET FORECAST IS A STIMULUS IN THE RIGHT SET IN THE GLOBAL ENVIRONMENT
THE NOMINAL GDP TARGETS (NOT REAL) TOWARDS THAT INFLATIONARY TARGET AT THOSE RATES TO CHANGE AND ACTIVATE THE VELOCITY CURVE IS A SOCIAL…
ISSUE TO PREPARE PEOPLE FOR THE TASK THAT NEEDS TO CHANGE THOSE VELOCITIES IN POLICIES AND PERIODS AND OPERATIONAL STRATERGIES TO HAVE A SOLID FRAME ON WHICH THE ECONOMY CAN RIDE HENCE FORTH
THE ENERGY PART REMEMBER RECEIVED SOME PART LAST YEAR AND MOVING ON THAT
HON YALUMA ALSO PERFORMED WELL IN ENERGY COMPARED TO OTHER MINISTERS IN SIMILAR ULTILITIES IN THE REGION EXCEPT FOR THE UNUSUAL BACKGROUND IN MY OWN OPINION AND OTHERS ACCROSS DOLLAR MAYBE ANOTHER MINISTRY AND YALUMA ENERGY BACK WITH EDUCATION FOR DOLLAR SHE PERFORMED WELL HISTORICALLY ENERGY REQUIRES PRIO BACK GROUND AND FIRMNESS TO NAVIGATE CURRENT TRENDS
SO HH SHOULD HAVE KNOWN THAT THE OUTPUT GROWTH OR GDP GROWTH IS WHAT POLICY MARKERS SHOULD BE TALKING ABOUT NOT THE ABOVE AS DEFLACTED
ITS THE GDP GROWTH THAT IS KEY IN MONETARY AND FISCAL POLICY THOSE DECISIONS THAT AFFECT THE ENTIRE ECONOMY AND STATUS GLOBAL
REMEMBER THE REAL AND NOMINAL AND RELATE TO BASE YEAR AND SEE HOW THE PRICES ARE ADJUSTED AND SEE CHIKWANDA BUDGET NOW APPROPRIATELY FLEXING IT AND SEE THE GROWTH IN IT
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THE US GOV HAS ALSO SIGNIFICANTLY REDUCED ITS EXTERNAL DEBT TO GDP ANALYSE AND SEE THE GOOD IMPLICATION OF THAT TO ITS ECONOMY AND ON GLOBAL
FOR POVERTY REDUCTION CHINA HAS SPELT OUT A 6 YEARS MASTER PLAN TO REDUCE POVERTY AND EQUALITY LIFTING MANY OVER THE POVERTY LINE AVERAGING 1 MILLION A MONTH TO ACCEPTABLE LIVING STANDARDS ABOUT 70 MILLION PEOPLE LIVE ON A 300 USD ANNUALLY LOOK AND COMPARE TO ZAMBIA AND SEE HOW PRODUCTIVE OTHERS ARE IN INITIATIVES AND POLICY THAT TRANSLATES IN PLANS AND EFFORTS TO ERADICATE POVERTY
ITS THE SAME THEME AND PROCESS WITH RESTRUCTURE IN THE BUDGET PREMISE
HH SHOULD THINK HARD TO CONVINCE THE MASSES IN HIS REBUT OF CHIKWANDAS…
HH SHOULD THINK HARD TO CONVINCE THE MASSES IN HIS REBUT OF CHIKWANDAS BUDGET IN THE GLOBAL SENSE YOU WILL NOT ALSO PUSH TOO MUCH THE SALES REVENUE IN RECESSSIVE ENVIRONMENTS TO ENHANCE REVENUES OR REDUCE DRASTICALLY YOUR STIMULUS IN EXPENDITURE TO ALSO SLOW THAT GROWTH IT HAS TO BE MANAGED
CHIKWANDAS BUDGET THEME IS THEREFORE CORRECT ALL OTHER ARE STRUCTURAL ISSUES ARE STRUCTURAL TO FIT IN