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Finance Minister Felix Mutati says the 2017 National budget will restrict the country’s borrowing.
Speaking during the Zambia Institute of Banking and Financial Services (ZIBFS) annual banking and financial services conference in Lusaka today, Mr. Mutati says
government will also address the levels of subsidies that are constraining its ability to reduce its appetite to borrow.
He says government will also engage in constructive conversation with the Central bank to begin to gradually normalize the fiscal conditions.
Mr. Mutati adds that government on its part will have a roadmap to address the arrears for the suppliers of goods and services so that they can begin to take the wheels of liquidity and improve the quality of assets.
He further states government will also come up with measures to enhance revenue collection.
And speaking earlier, ZIBFS President Cephas Chabu says the institute remains committed to offering excellent professional and academic programmes to practising bankers, financial service practitioners and students under various strategic alliances with colleges and universities.
Mr Chabu says the institute plans to accelerate its growth by strengthening its mandate by way of reestablishment under an Act of Parliament and developing its premises into an ultra modern academic and commercial facility within the next 18 months.
And in a speech read on his behalf by Bankers Association of Zambia Chief Executive Officer Leonard Mwanza, Association Chairman Charles Mudiwa says the industry stands ready to work with government in providing financial services and products that promote financial inclusion for all.