International Trade Expert Trevor Simumba has expressed concern that government expenditure has continued to go up despite the austerity measures put in place.
Speaking during a media breakfast meeting organized by the Center for Trade Policy and Development (CTPD) under the theme” IMF Bailout Package: Does Zambia need it or not?”, Mr Simumba says he foresees a situation where the government will introduce a supplementary budget during the current sitting of Parliament as a result.
He says Zambia is still struggling to deal with the fiscal deficit, noting the need for government to improve on this aspect for the benefit of the country’s economy.
Speaking at the same meeting, Zambia Institute for Policy Analysis and Research (ZIPAR) Senior Researcher Caesar Cheelo says Zambia does not need the IMF bailout package, but needs the fund.
Mr. Cheelo, however explains that Zambia is eligible for an interest-free loan because the loan amount in the offing is sizable which is between US$1.3 and US$1.6 billion.
And Economist Dr. Chiselebwe Ngandwe, who is a Lecturer at the University of Zambia (UNZA) in the school of Economics, has called on government to stick to the national budget as approved by Parliament to avoid deficits.