Party of National Unity President Highvie Hamududu has urged government to undertake a holistic mid-year budget review that can conclusively inform comprehensive remedial measures following the declining economic fortunes.
Mr. Hamududu said the macro economic targets set out in the 2019 National Budget are clearly already missed which must compel government to go back to the drawing board and re-work the macro economic framework.
He said the 2019 budget is clearly off the rail on economic growth rate, inflation rate, international reserves, fiscal deficit, exchange rate, fiscal arrears, debt sustainability targets envisioned in the 2019 budget.
Mr. Hamududu said the mid-year budget review has to put the budget back on the rail and will help government stop the current unsustainable firefighting approach to resolving the current economic difficulties the country is going through.
He said the government needs a methodical approach to resolve this economic downturn before it is too late.
Mr. Hamududu notes that if this needs holistic refinancing debt arrangement to correct the situation, it must be done as a matter of urgency.
He said this free fall in the exchange of the Kwacha must quickly be arrested before it creates serious inflation pressures in the economy that will become very difficult to deal with.
Mr. Hamududu said the tax policy needs review to incentivize investment, create jobs boost production, and promote exports.
He added that Mining taxes need a mid-year review to deliberately create competitiveness in the sector, for increased investment, production, jobs and exports.
Mr. Hamududu said Chinese option to dealing with the refinancing option is evidently more viable as China is Zambia’s major trading partner and therefore, logically holds more hope for partnership in the country’s economic recovery journey, while engagement with International Monetary Fund continues.
He however clarified that Zambia can only qualify for the IMF package once the economic recovery path becomes credible, hence the importance of the mid-year budget review to re-gain the required budget credibility.
Mr. Hamududu added that the Economic stabilization and growth recovery plan dubbed the ‘Zambia plus’ needs review and re-crafting to speak to a more robust economic reform agenda commensurate to the real magnitude of the economic problems the country is facing.
Well Said Mr Hamududu
From the name Hamududu one can tell, he doesn’t know much.
Clearly the name is Tonga isn’t he?
Need I say more?
Thanks
Im a PhD holder
BB2014,2016
Even Hamududu would have been respectable to handle KCM saga.
Not that thug we saw in videos following behind Kaizer in the upcoming mid-day robbery at KCM.
Mushota wa nskesha
Having a PHD paper does not mean you are smart. Look at mess of our economy planed by degree holders. Some of you with your PHD, God can’t you use because you’re puffed up with just information in your head. You have nothing to show off in suggesting what course of action we should take to address economy, except your hate for Tongas and boasting about your PHD. Having a PHD in your specialization does not mean you’re an expert at fishing. Well-done Humududu for telling the president that our economy is not on track. God does not delight in foolish jokes which hate others.
Hamadoodoo….of course what do you expect
BOZ Policy rate now at 10.25 %, commercial banks will start responding to this measure soon meaning increase in bank interest rates. However, the measure is avoidable because the of the interest of stabilising the macroeconomic environment.
Mushota go back to pre-school or year 1 and polish up on your grammar, young lady. The name is a Tonga name, definitely. But in your weird statement you are mixing up the name and the person. Did you forget to take your medication? You don’t even need to say more love, because either it’s not your day or you are plain stup!dy, not suprisingly.
Chanda will tell you that the economy is just fine, only the dollar is getting stronger and that is why. Otherwise those who have ears let them hear what you have said.
Did you read the write up by Dickson Jere on how RB used to introduce his staff, well for Edgar, it is like this, this is Amos Chanda with a certificate from night school at Hone, Kaizer Zula, a former self taught air conditioner technician and Freedom Sikazwe a bush mechanic from Lukashya Trades. I am Edgar Lungu, a disbarred Lawyer from UNZA
Of course its off the rails …auntie Maggie Dizzy is at the wheel…really laughable
Was it ever on the rail tracks? It was a failed project from the start
He has spoken sense, does he take the same stuff as Sinkamba? It seems only those that smoke speak sense than the jemasoni guzzlers and non guzzlers like Hichilema and Kambwili. There’s no budget to talk about
We are in trouble, imagine Kalyalya even encouraging banks to renegotiate loans with customers for a longer payment period or increase amounts to be paid. This monetary policy has gone out of the window and its intended purpose has had diametrical and opposite effect. Are these the technocrats that can deliver us from this economic quagmire that has befallen us. It will be diabolical to think otherwise. Everything has gone haywire. Hamududu being a Tonga will be labeled a UPND supporter but if we are serious, the solutions that he has offered here should be taken at face value, there are no political ca-notations attached whatsoever. What exactly does this BOZ of Kaalyalya stand for If I may ask?
As if Commercial Banks have the time to waste for that when the small print doesn’t state so!!
Hamududu has spoken sense . We should not look at the name or the tribe we are all Zambian lets look at what that person has offered. The two persons I can not trust are HH and CK because of their type of Politics they Play . Politics of hatred and bitterness.
It’s a shame! Not every Tonga brother or sister is a tribalist. Mushota’s assumptions are wrong and are an embarrassment to my brothers and sisters from Luapula,Muchinga and Northern provinces. Highvie is miles away from the Hakainde way of presenting advice or criticism.
Hamududu is a double dealing opportunist who is never available when risk taking and sacrifice is required in any party or organization he belongs to. Behind the scenes he is for HH full time given his broke status and elitist mentality with extremely narrow working experience . His party has no members apart from Himself as cash bait. Totally unconnected from the people he is with no Charisma whatsoever . PURE HYPOCRITE by all measure.
@ntubachushi, you are a son of a dog just like the one you support! Highvie is one the most decent politicians in Zambia without a hidden past like your political conmen licking white people’s behind for money.
You mean lungu the drunk has gone off the rails. He is an alchie kiki. Sadly he is not a working alcoholic
Oh wOw you know what …? Crooked accountant Tom Banda ( ex convict ) is an *****… haha haha
Off the rails my ass! Who can’t see that?
Even Edgar, Danny and Madam Dizzy have seen this.
ACTION to correct this lies in their hands.
These chakolwas and thieves by association are running the country down!
DAMN!!!