Siamunene justifies govt’s borrowing

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Commerce, Trade and Industry deputy minister Richwell Siamunene says it is only wrong for the country to borrow money for consumption and not to borrow money for investment.

Speaking to Q fm News in an interview, Mr. Siamunene says government is borrowing money to invest in infrastructure so that the country’s capital projects are on course and not misusing the money borrowed.

Mr. Siamunene notes that if the country has no money to expand the economy, borrowing is welcome as long as money is reinvested citing that that is what government is doing and hence people should not come out negative as this will benefit every Zambian.

He adds that the money being borrowed is being put to productive sectors that will in turn generate income in the near future and broaden the tax base.

Mr. Siamunene states that Zambians should not worry about how the money the country is borrowing will be paid back stressing that they will be more money to pay back the money since the money is being put to good use.

Mr. Siamunene has further urged Zambians to support the move by government to expand the economy through borrowing adding that everyone will benefit in the end.

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