ADD predicts depletion of govt treasury by April

The opposition Alliance for Democracy and Development (ADD) has projected that Zambia’s treasury coffers are likely to be depleted as early as end of March or beginning of April this year.

ADD president Charles Milupi says his party foresees a lot stress on this year’s K53.1 billion national budget owing the expected expenditures by government.

Mr. Milupi has referred to the US$ 1.2 billion that the Ministry of Energy has announced government will have to use to import electricity this year as one such government expected expenditures.

Charles Milupi

He tells QTV that if this amount is to be taken from the K53.1 billion national budget or, the Country’s treasury will be left with only about US$3.4 billion for whole year.

Mr. Milupi notes the importation of maize that government has announced may be necessary in order to deal with imminent food crisis is yet another expenditure the ADD foresees will be incurred this year.

He says his party’s calculations shows that the food deficits this year will require maize to a tune of US$700 million to US$ 1 billion.

Mr. Milupi states that if this amount too is taken from the national budget the Country should remain with an effective budget of about US$2.6 billion.

He says in addition to other expenses such as paying of interests on Eurobonds, it is clear to his party that this year’s national budget will be under stress.