Finance Minister Dr. Bwalya Ng’andu has said Zambia is making progress in the implementation of fiscal consolidation measures.
He has reiterated the Government’s steadfastness in implementing austerity measures; effectively managing debt; and, ensuring that the Economic Stabilisation and Growth Programme [ESGP] remains on course in line with the country’s stabilisation and growth aspirations.
Dr. Ng’andu has said results of the registered progress will continue to be shared with the public on a quarterly basis.
The Minister was sharing his reflections on some of the issues of critical importance that are on his table. He called for all players in the economic sector to pull in one direction and reiterated his resolve to tackle the tasks given to him by President Edgar Lungu such as returning the economy to fiscal health, achieving sustained fiscal consolidation and registering growth.
He said among the measures taken to register progress in the implementation of austerity measures is the stoppage of commercial loan contraction; re-scoping of existing non-critical projects by redesigning them in order to trim their estimated costs; and, the on-going identification and compilation of data on projects that will be stopped or postponed.
Dr. Ng’andu further said the recently approved supplementary budget by parliamentary in which figures were realigned within the total estimates for the current budget [approved by parliament in December, 2018] is a clear demonstration of the effort that the Government is making to realign expenditure and apply resources to priority programmes.
He stressed that the recent approval of the supplementary budget by Parliament gives the treasury authority to realign expenditure from non-priority to priority programmes, within the scope of the total budget approved for 2019.
“We did not request for additional resources from Parliament,” Dr. Ng’andu assured, and added that, “within the context of expenditure realignment, there are certain activities that we will sustain like those related to education, health, social welfare and other essential services.”
Dr Nga’ndu is being disingenuous here.The economic & fiscal damage that has been done by Bwana Lungu and PF will take at least 5- 6yrs to correct.
I don’t like his picture.
I miss pictures of Dudu Mwanakatwe.
Dr N’gandu is already singing for his Super. Very soon his Name will appear on Forest 27 list and other Corrupt Deals. If u can’t beat them join them. Dr N’gandu cannot serve the interests of ECL the Appointing Authority and remain Clean. As they say Birds of the same feathers flock together.
What progress?
Has the “anointed one” and his bunch of corrupt thieves renounced to theirs illegal wealth and remitted non accounted billions to the treasury?
Austerity means reducing Total Govt Expenditures. What reductions have been made? Lungu is globe trotting as he wishes and when in Zambia he is busy campaigning for 2021. The Minister of Finance should stop dreaming about an IMF Programme with corrupt ECL at the Helm. The handling of KCM Shareholder Dispute just scares off Investors and Creditors. With Lungu as President Zambia is doomed and will collapse the Zimbabwean way. The writing is on the Wall.
“….He said among the measures taken to register progress in the implementation of austerity measures is the stoppage of commercial loan contraction; re-scoping of existing non-critical projects by redesigning them in order to trim their estimated costs;…”
WTF ?
Is that when you people are acting ????
Soree , but that seems too late to midnight to starting that….
It seems this chap is on a different planet compared to his reckless colleagues.
It’s said that if u want to know who Dr N’gandu is see his Associates. He is now in the Company of the Corrupt and Liars. Dr N’gandu is already in the habit of lying. The fiscal position is worse than he found it and his Boss continues to gallivant as b4 and at great expense to the Fiscus. Lungu is not cutting down on his Expenditures. So its Austerity for the Poor and Protection for the Elite. Very soon Dr N’gandu will be allocated a Plot at Forestry 27 or will be involved in some Corrupt Deals. Just wait and see!
Dr Bwalya Ngándu, I sympathise with you. You mean well for the job that you have taken. But are you being supported by the appointing authority? Look at ” Cool and the Gang” trip to India. That is against the spirit of austerity measure. They are making your work very hard by unnecessary trips that add no value. In economics, there is a formular, GNP=C+G+I+Net export. Government has just concentrated on the C, which is consumption. The I,which is an Investment variable has been neglected. The G, has taken prominence,Government expenditure.The net export being the different between export and import does not exist at all. Fiscal policies can only survive in an environment of economical discipline. Otherwise,Dr,yours is a job that will dent your CV.
Morning today we launch our campaign as citizens. Now we all know both ECL and HH are not our best option but we want to pretend. Let us look to other leaders Milupe, Haamududu, Chipimo, Membe let us build the leader we need and this country will be fine…..join us in this new campaign we are tired of petty politics and wanting to use state machinery to punish each other. Infact if Milupe, Haamududu, Chipimo, Membe join hands we shall have a new culture, corruption gone, hunger gone, and the country first….you guys lets call for a national gathering we did it with MMD lets do it again…..
This man is very irritating. He also has that type of face you want to punch then kiss it and then punch it again. Zambia is now controlling prices of mealie meal and yet this silly man is telling us that we are making progress. Useless
Impostor is back…imagine waking up in morning to comment under some other blogger’s alias.
LT sort this nonsense out and why is my usual email getting blocked via this medium.
LT please block the above fake. He is playing double psychology. He is now being sensible. There is also a fake Jay Jay with a picture. Please that is not me
Bwalya Ngandu, there are many retirees pending to be paid their lump sums. Mwanakatwe during during 2019 budget said 1.6bn was for retirees. where is that money?. pay retirees so assist aliviate the food crisis by farming instead of them just sitting and waiting for money which is not comig. Finance Minister pay retirees.
What a job! I mean you are given tasks by the boss, and the boss does exactly the opposite. Dr Ng’andu, unless you are one if them just resign before you are soiled by people who dont see anything wrong with receiving gifts of cattle from state institutions as a minister.
Thank you Mr PF and Mr ECL for screwing all of Zambia
We will vote for you soon again so you can keep stealing and make us the next Zimbabwe
A$$holes
He is a level headed Finance Minister, that we as Zambians should all back. It shall not be easy, but this is one minister president Lungu chose wisely. If only he could rid himself of smiling Sikazwe, kaizer the miss-informer, Kampyongo and Jean. All shall be well to recovery rapidly in Zambia.