Government unveils K173 billion 2022 national budget

1. It’s a very ambitious statement of intent that needs everyone’s support

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2. A VERY GOOD AND SENSIBLE BUDGET
   LT WAKE UP UPLOAD THE FULL BUDGET
   PF CRY YOUR EYES OUT NOW !
   WE HAVE A LIGHT AT THE END OF THE TUNNEL
   PAYE DOWN VIVA !!!

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3. Good start. Debate on implementation. The president has done good with his government on budget the and he has left for Europe to discuss other important global existential threats such as climate change, international security and so forth.

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4. This president may be prophetic, he is the seventh. To those who study the bible find out what happened at every 7th time of an event in the bible. Am thinking what Sangwa said may also come to pass that this HH has come to stay because he has a great opportunity to make stuff good, fresh breath etc.

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5. Not bad. LT kindly upload the full budget so that we get to see the pertinent details.

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6. Grants and previous administration Should have not been mentioned in the budget.

   “As UPND government, we stand by our campaign promises to the Zambian people,” assured Dr. Musokotwane.”LT

   Dr. Musokotwane, your now GRZ worker. first GRZ second UPND. Look at the last administration the mess they left us in it’s not looking pretty to the outside observer.

   The budget thumbs down.

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7. They said they inherited empty coffers. So where is the money coming from? Would I be called rude if I called hh a liar or thief? Because only thieves tell you there is no money when there is, so that they can eat the money themselves. We thought upnd said their aim was fiscal discipline and yet all we see is overzealous spending. Does this mean more kaloba? Is this not what they campaigned against?

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8. They said they inherited empty coffers. So where is the money coming from? Would I be called rude if I called hh a liar or thief? Because only thieves tell you there is no money when there is, so that they can eat the money themselves. We thought upnd said their aim was fiscal discipline and yet all we see is overzealous spending. Does this mean more kaloba? Is this not what they campaigned against? Lusaka times editors don’t be silly

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9. Free educationist here. Ba Nakachinda, Sean Tembo, I await your valued analysis. Let the discussions begin. Answers come after discussions.

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10. Yaba yaba yaba! Iyi yeve sembe ni chess , sembe ni white wash. Yaba! Ala kwena mwana. HH yena, ni zimya nebba.

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11. I sometimes enjoyed ba PF making all mediocre judgments but now, with a budget like this, what ll they yap abt about? Especially that they kept & shared the money amongst themselves in Lusaka. But HH has decided to throw billions hard into the constituencies. From 1.6 to 25billion. That’s 23 times more than what pf gave us. Yo!

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12. Ba PF don’t hide, come out, let’s exchange words, as you always did. This one kwena is a stop fight – Billions into villages, and on top of that – free education! Ahahahahhahahahahahahhahahahahahhahahahahahahhahahaha

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13. Sounds like this presented document is still campaigning. Too many promises and unrealistic pronouncements we still need to see come light. This looks like the budget is speaking to not very well planned activities. Still sounds like theories and hopeless hope.
    Ibange ba upnd.
    Like they say “the taste of the pudding is in the eating”. Iyi ni penalty wailpela. You need to score. Free means free. Not ifyabupuba apa. I am looking at this with keen interest.

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14. As an economist I am okay with how this budget will be funded. I hope it gets better going forward.

    At least 58% will be from revenues and grants.
    While about 42% will be financed through external and domestic debt. This deficit needs to be reduced over the coming years. I am hopeful it will be reduced.

    The debt financing of the budget needs to reduce because we should be able to fund or pay for what we spend on.

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15. Ba KZ read the budget an you will learn more

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16. Am always positive with this new government.

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17. baKaiza Zulu, ba chisebwe, naba State House has Fallen, from your comments on the budget, am now inclined to agree with someone on one of my WhattApp groups who said “I’m shocked and disappointed there hasn’t been any money channeled to Chainama Mental Hospital for the 1.8m who need a check up”. I will try to convince sean tembo to vuvuzela on your bwhalf.

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18. @nineo
    Powers of the President explicitly assigns the president the power to sign or veto legislation.

    Chief of state refers to the President as the head of the government. He is the symbol of all the people.

    Reading the Budget does not resonate with the power assigned to UPND administration. So many contradictions in this budget. “Communication noise refers to influences on effective communication that influence the interpretation of conversations. While often looked over, communication noise can have a profound impact both on our perception of [social interaction|interactions] with others and our analysis of our own communication proficiency.”

19. Something important to note about this Budget is spending what you have and not what you don’t… like our lazy reckless colleagues in the previous PF govt.

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20. How does someone like Lazy Lungu feel imagine 7 years in govt he couldn’t even come close to this budget ….shame on you thugs!!

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21. UPND budget is topdown leadership your budget is self-centered, Please don’t take us back.

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22. Some K72.3bn of the budget will be raised from borrowings and K78.7bn will be spent on debt servicing…which means we’re making almost zero progress in reducing debt.

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23. @ Kaizer Zulu better to keep quit. You and your party failed to pay ; you defaulted on debt repayments. Why? If there was money why did you default?
    Let others do there part and lets judge them on what they will achieve versus the promises. For a start this budget has good intentions and priorities – 30K teachers, 11K Health professionals, addressing mining taxation, incentivizing tourism, and taking development to people through CDF and reducing fiscal deficit are major points. The budget made by your part was just benefiting a few politically connected people.

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24. TARINO OARANGE@ 17
    We don’t have money to spend. We have borrowed money . The first loan to be paid over 10yrs. The second loan to be paid over 30yrs.
    Are you blind and deaf that you cannot read or could not listen what was in the budget.

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25. Briefly Back It should be observed that this budget is weak when you look at its measures to Outlook in the Near to Long-term Its heavy on Financing and ,most of It externally inclined With little stimulus on individual economic sectors contribution towards the Real GDP projection The impact of these Budgetary measures on Real GDP is also very weak to realize the economic transformation we need long-term and beyond this 1 yr fiscal Period More so the employment creation in terms of the impact of these budgetary measures is not guaranteed to be created and impactful in the sectors of value When you look at Long-run impact of these measures ,the fiscal balance is…

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26. Sub-Saharan is projected to Grow at 3.8% We are at 3.5% Of this 3.5% what is the Real GDP contribution for each sector Given the measures announced to grow the economy and realize revenues to create employment beyond the numbers of those seeking After the Financing and Funding methods how will the economics of the country change long-term ay 2021 The key is to look at the Budgetary Balance look at the Financing and Treasury and maturity profile See the impact and reconfirms whether its progressive or Not If reducing The impact of sectorial Real GDO contributions is below the projected growth rate of 3.5%. So there no transformation or economic progress of that magnitude to…

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27. @Wow! How Anthony Bwalya
    @Napthali ,
    Plain and simple: This budget is BETTER than any previous PF budgets, it’s about turning around the sinking ship. Your concerns will be answered in 2023/2024 budget.
    There is no budget that pleases every economist ! There is always some aspects that controversial, so this firt UPND is not an exception. Focus should be, on how do we move or change certain pillars within this budget to make it more effective.

28. This Budget is weak when you analyse the current economic outlook and the forecasts in Measures The impact towards growth projected Growth of 3% and employment creation by sectors of value is below what is important to actualize impactful economic multipliers The revenue methods and expenditure allocations will not yield positive economic transformation to allow the economy reach sustainability Its expected that the Budget balance will grow in the long term to -9% We say hidden deficits hidden debts because its becomes more pronounced going forward Because of weak sectorial allocations and measures the employment in the non skilled critical areas risks falling below…

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29. Real GDP Tempted to read again but Gone will simply observe and reconfirm progress

    Okay thanks

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30. @Napthali it seems you cannot understand the fiscal context of this budget as outlined by the FM. I repeat here in an equation form that we need to solve – DS + PS > IR (where DS is Debt service ; PS is public service salaries & IR is internal revenues). This is a precarious situation because, as you have put it, budget is heavy on financing; but how else could you have dealt with this paradox. Given this scenario, the possibilities are 1. Borrowing; 2 defaulting; 3 redundancies in public service. This scenario happens frequently in USA and they normally raise the debt ceiling as they cannot contemplate the consequences of default or public service redundancies. The same applies to Zambia, we cannot afford continued default or contemplate public service layoffs. So fiscal context here is…

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31. Most important also in returning to sustainability is to see the key drivers of growth and elevented debt levels Do revenues 10 year Speeding 10 year and Deficits 10 yr and see the impact on funding and financing to Job creations in the sectors Its Net zero wamoka but you still have hope to see and realign

    Gone till 2026

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32. Ba LT, stop with your stu.pid moderations !

    People here are insulting other and you are publishing the comments without moderation, and when we comment to important topic of budget you are busy holding up the comments under so called moderation.

    Give me a break !

33. CHOOSE YOUR WORDS WISELY KANENE

34. The excessive borrowing by PF is what got all of us into trouble. How on earth does anyone knowing our bad state even plan to borrow $ 4.6 billion next year?

    Why would you give in to foreigners over royalty taxes from our god given minerals? Why? We will not derive any benefit from our minerals. Only a traitor can do this. This is what he was doing with RB.

    This has sent wrong signals and I doubt IMF / World bank are impressed by this expansionary debt funded budget and are unlikely to support it.

    This is a populist budget put together to pander to the populace and is no just like the last two unfunded expansionary budgets PF put together. This is the largest budget ever. To please but destroy peoples lives and business from heavy debt burden, resultant massive currency…

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35. @Napthali ,
    Plain and simple: This budget is BETTER than any previous PF budgets, it’s about turning around the sinking ship. Your concerns will be answered in 2023/2024 budget.
    There is no budget that pleases every economist ! There is always some aspects that controversial, so this firt UPND is not an exception. Focus should be, on how do we move or change certain pillars within this budget to make it more effective.

36. We Hope so much hope and faith on HH and the economic Transformation he was preaching on Now it appears him alone has the mind set on how he will drive us to sustainability The Ministerial Budget has missed the need to reclaim the Budget and achieve economic growth The aggregates on revenues and expenditure on Outlook and Measures and added changes in Funding and Financing Methods have become more weaker to achieve stronger impact on the economic transformation agenda long-term and in the Short-term the impact on sectors towards the growth measure of 3.5% in allocations and revenue measures has missed that also Looking at it long-term The planned sources of Borrowings…

37. @Digger what the minister of finance has done is to allow mineral royalty deductibility as is the norm in international mining practice. In its current form, mining houses where literally being double taxed. Mineral royalty is paid on production and not on profits and is therefore an operational cost much like interest on loan. As Interest deductibility reduces cost of borrowing so does mineral royalty deductibility reduce operational costs by avoiding “double” taxation. This has been the cry of the chamber of mines as it impeded investment. There are no changes to mineral royalty rates, but what happens is that when calculating corporate tax, mineral royalties will be treated in the same way as interest and deducted for purposes of corporate tax.

38. At least also they should one mega Infrastructure project of value to the economy like the Fast rail line connecting DRC to Kazungula and maybe improve the effectiveness and efficiency of revenues on exports Look also at the Baseline Budget projections carefully to the underlying economic forecasts on Real GDP supported by Total factor productivity into 2030 given current 2022 Budget, These 2022 budget measures in revenues and expenditures will result in pronounced deficits and elevated debt levels towards 2030 The rating of this Budget by rating agencies is poor also to creditors and Investors over this period This is the reason we need to realign it and make more…

39. more attractive before its adopted and made a Final National Document If your miss the forecast in revenues and expenditure methods it means you are adding to the deficits and deficits must be funded and financed Already your GDP equation and parity conditions are out of circle Meaning the Current Account, Financial Account and Capital Accounts are out of circle over your Planning period. Depending on how your polices are aligned you can either attract investments or exemplify the deficits and funding gaps So the way forward is to maximize revenues and utilize expenditures to support Growth and economic growth in these Budget measures with 2021 as Baseline Okay thanks Gone for Now

40. The principle in modelling Mining and extractive industries is to have a shared stake in the costs and revenues of the mining over the
    mining period The Fiscal regime design must support this in revenue generating including tax structure and administration The Most important thing for the country is to maximize the return together with those Investing You charge Rent(royalties) for the Resources and Corporate Tax for the Profits and share in the return on capital to share holders in dividends to ZCCMIH Now the rates and these rates must be within global acceptable mining taxations You see it in IMF papers, Growth centers and Diego Mesa Puyo What we should avoid is reducing revenues on tax…

41. I hope you have seen President Joe Biden stance and Policy on EU Tariffs watching his meetings and representations at WTO Now in terms of Mining Taxation, the attractiveness and Mining Policy that shares in the structural and cyclical movements in the sector and prices Nevada stands out You participate in Rent, Profits and Dividends That should be the effective rate for the policy to be impactful to raise sufficient revenues to restructure the economy and reduce the deficits As it is its a RACE TO THE BOTTOM Tax methods in mining

42. The last thing is also consider the well intended benefits of decentralization consolidate the economic and local Government Financial and Administrative system to ensure desired and well intended impact of scare money projected to be sent into the locations and municipalities that may not have the capacity like central to plan coordinate and implement the Budgetary system You may also still excise major control control over the funds and revenues to ensure that Investments , expenditures and borrowings are macro prudential as it is the impact of this decentralization measure may simply pronounce more the Central Gov Deficits and Budget Balance for the periods post this Budget that is 2023…

43. The budget is fine, it’s the matter of knowing where they will source funds to fulfill k173 billion better to advise than to criticize.

44. I like it
    What about small business

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