As Zambia anticipates the presentation of the 2024 National Budget on Friday, September 29, 2023, Hon. Given Lubinda, the Vice President of the PATRIOTIC FRONT, has voiced his views on the country’s economic situation. The budget, to be delivered by Minister of Finance and National Planning, Hon. Situmbeko Musokotwane, marks his third since the New Dawn Government came to power.
In his critique, Vice President Lubinda highlights several key concerns. He notes a decline in domestic revenue, a sharp increase in local and foreign borrowing, a decrease in fiscal discipline, and the failure of austerity measures. These challenges have coincided with pressing national issues such as food security crises, economic growth stagnation, high unemployment rates, and escalating poverty levels.
During the TOWNHALL FORUM held on August 22, 2023, Minister Musokotwane disclosed a downgrade in economic growth prospects from 4.7% to 2.7%. Lubinda emphasizes that previous budgets have not effectively addressed these issues.
The Vice President attributes some of these challenges to President Hakainde Hichilema’s preference for foreign solutions over domestic policies. Hichilema’s reliance on international bodies like the International Monetary Fund (IMF) and foreign investments has, in Lubinda’s view, diverted attention away from mobilizing domestic resources. Concerns also extend to the exportation of national maize grain reserves and electricity, contributing to severe challenges such as load shedding in 2022.
In addition, the government’s handling of the agriculture sector, which is vital for food security, has faced criticism for corruption, negligence, and incompetence, exemplified by scandals like Sugelite and Gold.
Lubinda refers to the International Monetary Fund’s 2022 Country Report, which predicts social unrest in Zambia due to rising prices, inequality, inadequate healthcare, and political instability. The report recommends measures such as strengthening governance, fiscal adjustment, and improving fuel procurement efficiency, which Lubinda claims have been largely ignored by the government.
Furthermore, proposals to reform or abandon the Farmer-Input Support Programme (FISP), as directed by the IMF, are a source of concern, with fears of increased food insecurity and high food prices.
The recent eighth Living Conditions and Monitoring Survey (LCMS) conducted by the Zambia Statistics Agency (ZamStats) reveals worsening poverty levels, with 60% of the population living in poverty. Rural and urban poverty rates have also increased, with some provinces, such as Muchinga, experiencing significant poverty.
The cost of living remains high, with the Jesuit Centre for Theological Reflection (JCTR) reporting a cost of K9,267.34 for a family of five in Lusaka for August 2023. This places a burden on families with low and unreliable incomes.
Despite a budget of K167 billion for 2023 and a recent supplementary appropriation of K11 billion, critics argue that little progress has been made in addressing unemployment, poverty, disease burden, and the cost of living. The tax burden has shifted towards small and medium enterprises, workers, and ordinary citizens, while tax incentives favor multi-national corporations and mining companies.
In conclusion, Vice President Lubinda expresses doubt about the upcoming 2024 budget, citing previous budgets’ failure to deliver tangible economic improvements. He calls for a reevaluation of the government’s foreign-centric approach to national development and urges the convening of a National Economic Indaba to explore alternative solutions to the nation’s challenges.
Lusaka upnd times, you are disrespectful f00ls for omitting the said statement in this article.
Lubinda for President!
Ba lubinda…PF died with Mr sata after you chased all people with integrity. Guy Scott. Masebo …you put kapata Ku lands. Siliya Ku in ifor. Lou Ku kaya…every ministry was marred with corruption. You had the time to run the country. Street venting…bakapokola pa road..
You even closed post newspaper.
Now you want to provide checks and balance of your own mess.
I wonder what checks and balances they can provide when their bwato is listing. It is so unbalanced. It also needs a compass to point to PF priorities. PF needs to go to a convention but all it is busy doing is taking mattresses to Esther Lungu’s detention centre and escorting Lungu on his saturday runs. Lungu was with my father at National Service and he tells us Lungu was just a malingerer. But now he wants to pretend to be a physical fitness expert who can make a comeback as a PF candidate. I think Kalaba should join them to give them some sanity
I wonder what checks and balances they can provide when their bwato is listing. It is so unbalanced. It also needs a compass to point to PF priorities. PF needs to go to a convention but all it is busy doing is taking mattresses to Esther Lungu’s detention centre and escorting Lungu on his saturday runs. Lungu was with my father at National Service and he tells us Lungu was just a malingerer. But now he wants to pretend to be a physical fitness expert who can make a comeback as a PF candidate. I think Kalaba should rejoin them to give them some sanity
Look at the mess you’ve left this country with your ka jamason…you used jamason to pillage this country… Ku independence kali LA nu li at cattail what’s to steal this country.
Imwe ba UPND stop with these Donald Trump tactics of always shouting you found nothing. Everyday its we found nothing but a mess. Just admit you cant fix things. We the voters will look for another party. Its our job to look for who to vote for.
20 million people pa street…or every child my class room..
I Trust the Brilliant HH than this thug.
I feel secure with HH as our Leader.
You feel secure in HHs arms naked. You gays we know you just like your chief justice