A govt that spends more on repaying debt is incompetent – Mike

The opposition Peoples’ Party (PP) has charged that a government that spends more on repaying loans than it spends on growing food is incompetent.

And PP President Leader Mike Mulongoti has observed that government’s borrowing spree is starving the economy of the much needed investments in productive sectors of the economy.

Mike Mulongoti

He fears that PF government’ appetite for borrowing is not only a danger to the people today but also a heavy burden for generations yet to come.

Mr. Mulongoti states that he will not be shocked if Zambia is declared HIPC a second time because it is heavily indebted.

He has warned that if Zambians fail to show the PF government exit in 2016, the woes that will follow cannot be quantified.

Mr. Mulongoti however thinks that it is good for the Minister of Finance Alexander Chikwanda to  acknowledge the need to safeguard the future of Zambia by cutting down borrowing.

He says this acknowledgement is not sufficient on the other hand without hard work and commitment being demonstrated.