THE Economic Association of Zambia (EAZ) is concerned with how Government has structured the country’s economic development, saying the inability to plan effectively is affecting the growth of key economic sectors.
EAZ secretary, Emmanuel Zulu says it is worrying that most of the resources are being channelled towards the public service wage bill and debt servicing, neglecting sectors that can help to improve the economy.
The Ministry of Finance and National Planning recently disclosed that from the K23.1 billion released for public service delivery K3.9 billion was channelled towards salaries and K12.7 billion towards debt servicing.
But Mr Zulu said Government should have channelled such a huge sum to improve key economic sectors to improve the econ- omy. He said while Government was aiming to create jobs and also dismantle debt, it should carefully balance its expenditure with fis- cal consolidation to ensure service delivery was not compromised.
Mr. Zulu has pointed out the importance of investing in economic growth, stating that a robust economy was key to sustainably man- aging and servicing the country’s debt.
Meanwhile, Mr Zulu has expressed happiness over the govern- ment’s efforts to diversify its revenue base, stating that the move was critical to cushioning the private sector from economic shocks.
He has also urged the government to explore untapped opportunities in sectors such as mining to enhance revenue generation, meet financial obligations, and improve service delivery.
