The Zambian people are doomed and should start preparing for the worst in an impending economic catastrophe, opposition Forum for Democracy and Development (FDD) has warned.
Reacting to Finance Minister Alexander Chikwanda’s move to seek Parliamentary approval to push Zambia’s external debt ceiling from K 35 billion to K 60 billion, FDD spokesperson Antonio Mwanza says Chikwanda had run out of ideas and needed to pave way for the mess to be sorted out.
And Mwanza says it was surprising the whole Patriotic Front government was behaving like business as usual when the country’s finances were dwindling to alarming levels. He noted that even after months of advising government on the prudent use of resources, the state had continued with no sense of urgency over the matter.
“Three months ago we told the Nation that the Budget had COLLAPSED. We advised Mr Alexander Chikwanda to quickly present an Emergency Budget to Parliament. The Government responded with insults and ridicule. But today the Minister of finance has succumbed to the truth.
The Budget Deficit has balloned to K20 Billion. That is almost half of the entire 2014/15 National Budget. And Chikwanda and his PF are now asking Parliament to allow him to borrow upto K60 Billion.” Mwanza said.
He advised government to cut down on the numerous trips and unnecessary expenditure and listen more to people’s concerns.
“The Bank of Zambia Governor Dr Kalyalya has informed the nation that this Government is borrowing monthly to finance it’s operations. He has told us that Lungu and his clique are spending more than we are earning as a nation. The revenue collection is down but the spending is ever going up.” the FDD spokesperson said.