Q FM Africa's Modern Radio
Green Party president Peter Sinkamba
Green Party president Peter Sinkamba says the 2016 budget is a sign of a shrinking bread basket, and diminishing wealth of the economy.
Mr. Sinkamba notes that the 2015 budget was K46.67billion at the time it was presented to Parliament equivalent to US$7.52billion at the time with the GDP estimated to be equivalent to US$28.8billion.
He adds that the 2014 budget was K42.68billion equivalent to US$7.90billion while the GDP was equivalent to US$25.74billion.
Mr. Sinkamba says the story is that GDP grew from US$25.74billion in 2014 to US$28.8billion which is commendable, but that the sad story is that the GDP is set to reduce in 2016 by US$11.45billion to US$17.35billion.
He explains that agony is that whilst the 2016 budget appears to have increased in Kwacha terms from K46.68billion to K53.1billion, the budget has actually decreased in dollar terms from US$7.52billion to a paltry US$4.48billion.
Mr. Sinkamba further states that Zambians should therefore brace themselves for a shrinking bread basket.