The Zambia Institute for Policy Analysis and Research (ZIPAR) has disclosed that the country’s fiscal deficit stood at 29.2 billion kwacha from the budgeted 25.2 billion kwacha in 2022.
Institute Executive Director Dr Herrick Mpuku says the deficit government should come up with modalities that led to the 6.3 percent deficit such as road construction.
Dr. Mpuku adds that 6.3 percent places Zambia on course to attain the 6.7 percent Gross Domestic Product target set for the 2022 financial year.
And, Senior Research Fellow Zali Chikuba says the country needs to accelerate its industrialization agenda to overturn its economic fortunes in 2023.
Meanwhile, ZIPAR Research Fellow for Public Finance Dr Sylvia Bwalya says government should institute consistent policies in the mining sector to enhance domestic revenue collection in 2023 and beyond
By Shem Malinda