K60 billion debt is sustainable, can be repaid – MVUNGA

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Government says it will continue to invest heavily in the infrastructure development because this is the only way the country’s economy will grow further and create more jobs for the people.

 

And government has reassured Zambians that the lifting of the debt ceiling from 35 to 60 billion kwacha is still sustainable and can be repaid.

 

Finance deputy Minister Christopher Mvunga says this is because of the country’s revenue standing which is currently at five billion U.S dollars per annum.

 

ZNBC’s Robert Mwanza reports from Chipata, Eastern Province that Mr. MVUNGA said this when he met the business community in Chipata on Friday evening.

 

Mr. Mvunga added that the money that will be borrowed will go a long way in funding projects that have stalled due to the budget deficit that the country is currently having.

 

He says the money will also help grow the country’s economy that will translate into creation of more jobs and improved living standards.

 

Mr. Mvunga says Zambia has rallied in development because of lack of massive investment into its infrastructure.

 

And in the vote of thanks, eastern province chamber of commerce and industry president Thomas Mtonga praised the government for taking an initiative to interact with the business community in the area.

 

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2 COMMENTS

  1. Govt is borrowing because of lack of money so what will happen different tomorrow. If the revenue standing is at $5 billion per year how much is ur expenditure per year that’s how accounts work revenue always goes with expenditure.

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