Q FM Africa's Modern Radio
Fredson Yamba
Government says it will hasten the full implementation of measures announced during the 2017 budget presentation to ensure fiscal consolidation and reign in the budget deficit.
Speaking at the just ended IMF mission to Zambia, Secretary to the Treasury Fredson Yamba says Government will also ensure restraint on expenditure, adding that critical capital investments will be done in a systematic manner by completing critical on-going projects before embarking on new ones.
He says government will also carry-through the reforms related to the Farmer Input Support Program (FISP) and the role of the Food Reserve Agency.
Mr. Yamba says FISP has hindered diversification in agriculture, as it focuses more on maize production.
He adds that the cost structure associated with the distribution of inputs has attendant inefficiencies, but reiterates that government will migrate to full implementation of the E-voucher system.
Meanwhile, in order to augment fiscal policy measures, Mr. Yamba says government will also enhance public fiscal management through the strengthening of government commitment control systems, as articulated in the economic and stabilization growth program, which will include migration of all central government institutions unto the integrated fiscal management information systems by the end of the year.
And Mr. Yamba has further stated that government will continue facilitating investment in the energy, tourism, and the manufacturing sectors.
Speaking at the same event IMF Mission Chief, Tsidi Tsikata says the mission and the authorities have agreed on working on actions needed to reach staff level agreement on a program that could be supported under the IMFs extended credit facility.
Mr. Tsikata says Zambia’s economy has improved in recent months driven by good rains and positive sentiments in the financial markets as evidenced by increased foreign investor participation in the government’s securities market.
He says the mission has expressed gratitude to the authorities and stakeholders for the constructive spirit in which all discussions were held.
The IMF team came back into the country on May 31st 2017 and the team has since returned back today.