Bwalya Ngandu
Bwalya Ngandu

Finance Minister Bwalya Ng’andu is today expected to present the 2020 National Budget in Parliament.

Over the last four months, the Ministry of Finance has been conducting budget consultations with all stakeholders and the general public throughout the country.

In the coming weeks and months, the Ministry of Finance will conduct post-budget dissemination and sensitization programmes.

However, the opposition UPND says today’s budget will increase poverty among the already impoverished Zambians.

UPND National Chairperson Mutale Nalumango said with over 90 percent of the budget going towards emoluments and debt servicing, poor people should not expect anything better from the budget.

She noted that with the countries debt having continued increasing this year, it is expected that the 9.9 percent allocation to social sectors will reduce further in the 2020 national budget.

Mrs Nalumango has advised the PF to reduce its appetite for borrowing as it risks plunging the country into a debt crisis.

And the Zambia Tax Platform says the budget consultation process for the 2020 national budget was not done adequately and may not reflect the wishes of the people.

The Organisation however expects government to increase budgetary allocation towards social protection which has seen a reduction in spending thereby affecting the quality of life of poor Zambians.

The Zambia Tax Platform Coordinator Ibrahim Kamara said that the marginalized groups must be targeted for social cash transfers and the funds must be disbursed to the planned beneficiaries.

Mr Kamara said the platform is concerned with the current debt situation in the country which has impacted on government spending towards other sectors.

He said the platform expects government in the 2020 National Budget to produce a clear plan on how it will mitigate the impact of debt accumulation on the country’s economic integrity.

And Mr. Kamara said the country will need liquidity and should seek to engage the IMF for support with measures also needed to address climate change and increased allocation to the Agriculture sector as set in the Malabo Declaration.

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13 COMMENTS

  1. I don’t like that guy, not at all. He has been a Finance minister for a year, and has one absolutely nothing, total nothing, he is below zero.

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    • Of the projected total GDP, only 10% of that will be available for use by Zambians in all areas. The rest goes to debt servicing.
      Should be an ease budget to debate.
      Zambians danced and reversed themselves to the debt trap. From the abundance of the heart the mouth sings. Dununa reverse. Forward never!

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  2. Watch them copy and paste hh points in the new edited version. This man has not come up with anything tangible since he took over. He is a mere pf puppet who will sing to the tune of pf. Its shocking how even educated people can reduce themselves to mere cadres. Life must be really hard in Zambia. Am glad me and my white wife made the difficult decision to move to London

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    • HH’s so called budget came out two days ago. How can govt copy and paste HH’s budget. In your own mind you think the national budget is prepared in two days? The national budget was ready way back. Therefore, should there be any similarities, then its HH who has copied. Probably someone licked it to him

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  3. His honey moon is over. Nothing is happening. Some people said he is not an economist to be governor it looks like atleast for him they were right.

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  4. What’s the use of even presenting this budget when we all know there will only be money to fly the President around in the Gulf stream and flying Inonge Wina abroad for medicals while a lot of unpaid retirees continue languishing for years

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  5. “Finance minister Bwalya Ng’andu to present the 2020 national budget in the parliament.”
    We’ll see if it will reflect the speech at United nation in New York, on September 25, 2019.

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  6. To the minister of finance
    Why are banks still charging bank charges from the customers who are giving them money
    Could you please address this issue it’s high time banks stop stealing from their customers
    Economists please do your work and educate the public on this
    Please stop deducting bank charges from customers

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  7. Africa growth like in Asia (the most optimistic) and Zambia in particular is forecast to slow down with Inflation poised to increase 2019 to 2020 in the shorterm to near long-term

    Its a budget that will address these risks low growth environments Zambia’s current low-growth and make attractive investments policies to tap in new manufacturing plants relocating excess capacity and plants to Africa to make those trade tariffs and grow the economy

    Its well allocated and weighted,unlike earlier budgets well thought out in Growth outlook, Fiscal Outlook,Inflation Outlook(that has risen globally by some small basis like Zambia)He will address the current account outlook and specific sector…

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  8. Guys this Neez upnd strategist, is too full of himself. He thinks boasting about being an economic refugee in other foreign countries is a solution enough to demean others on this platform. Being abroad or overseas is just an opportunity and not a right. Your language is so blant. Look, even if your wamuyaya President (HH) of the Upnd, could produce a million copy & paste budgets, government will never at any time substitute theirs for his. Neeez must be ashamed of himself, to even involve his wife on such a platform. Ubupuba bane, nobu “fornteen”. Just get ready for another marathon in 2021 till 2026. The writing is on the wall.

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  9. SO HH EXPOSED HIMSELF OF HAVING CLASSIFIED DOCUMENTS AND IN HIS WISDOM HE PUBLISHED THAT. SOMETIMES HH INVITES TROUBLE ON HIMSELF. LET THE SLEEPING DOG LIE.

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