Minister of Finance Felix Mutati says government has saved up to One-billion kwacha from ghost Farmers under the Farmer Input Support Program as part of a cleanup exercise in various sectors.
Mr. Mutati says the cleanup has also reduced government’s payroll to the education sector by 10 percent.
Speaking during a post budget panel discussion organized by PricewaterhouseCoopers in Lusaka, Mr. Mutati said the PF government has exercised fiscal discipline in all sectors which has led to the stabilization of the economy.
He said the positive pronouncements in the 2018 budget also indicate government’s commitment in working with the private sector to change the economic landscape of the country.
The Minister stated that government has emphasized on tax compliance by all tax payers in the 2018 national budget to raise the required revenues for economic growth and industrialization.
He however noted the need for major reforms on the tax enforcing agency that will see massive education on tax compliance and flexing of payment modes.
Mr. Mutati added that government is also working on reducing bureaucracy which has hampered development of industries in the country.
And Bankers Association of Zambia President Charles Mudiwa said the industrialization and infrastructure policies by government have seen the banking sector increase its lending to the private sector.
Mr. Mudiwa said the banking fraternity has welcomed public private financing which will make the private sector participate in the infrastructure development of the country.
Meanwhile the International Monetary Fund commended Zambia for its positive economic gains.
IMF Country representative Alfredo Baldini said the country has exhibited fiscal discipline and that chances of recovery owing to diversification are very high.