While others are worry of how Government plans to source revenue to finance the K742.8 billion 2014/2015 national budget, revered economist Professor Mathews Chikaonda told
Government has assumed that
Donors have not committed their support to the budget due to the looting and plunder of public resources at Capital Hill in
And economist Professor Mathews Chikaonda feels the zero-aid budget is necessary under these circumstances.
"We have sometimes formulated budgets on assumptions that we will get donor funds, but that has not worked because that money for one reason or the other is never disbursed."
Chikaonda added, "Now government is saying we have no external support, let's manage our own resources. That's the best we can do as a country. Do we have a choice? I don't think so."
Professor Chikaonda also allayed fears that government will have tough time in financing the budget.
"If you make your calculations very well on how revenue is to be collected, you will notice that the deficit is only a K100 billion and that can be sorted out by the
Meanwhile, finance minister Goodall Gondwe has said amicable discussions are continuing with donors and it is hoped that grants could be received in the course of the year.
According to Gondwe, the
Said Minister Gondwe, "Nevertheless, as the pledges are conditional on demonstrated progress in the implementation of the agreed public finance management reforms, we have assumed that none will be received. However, we believe that by mid-year we will have made sufficient progress in implementing the public finance management reforms enough to achieve the critical mass necessary to trigger disbursements of the budget support."
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 31, 2014
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