Economist Emmanuel Zulu is elated that the 2024 national budget gave a roadmap to the country’s debt restructuring process evident by the drop in external debt repayment to about K6 billion.
During the presentation of the budget speech in parliament, Finance and National Planning Minister Situmbeko Musokotwane indicated that Zambia is only paying K6.1 billion in debt repayment next year showing a reduction from K32 billion previously.
In an interview with Phoenix News, Mr. Zulu says this has eased resources that have been channeled to other sectors such as agriculture, education and health.
He says another notable increase is to the economic affairs from K35 billion to almost K40 billion next year, an indication of government’s commitment to revitalizing production and investment to gain self-sustainability.
Mr. Zulu has however noted that the budget was silent on the sinking fund and is hopeful that modalities or a roadmap are being put in place with regards to the operationalization of the fund to enable the country repay its debt when it’s due.

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