Zambia’s economic challenges were predicted in 2011 – Musokotwane


Former Finance Minister Situmbeko Musokotwane says the current economic challenges that Zambia is experiencing were predicted to happen as early as 2011.
And Dr. Musokotwane notes that the PF government has in the last four years failed to encourage expansion out put of the private sector.
He says this has consequently led to Country not having increased revenue from taxes.
Dr. Musokotwane has advised that government should in this case ensure that the private sector grows if more tax revenue is to be encouraged in future.
He has also advised government to slow down on spending especially that there is no one that is holding a gun to its head that it must to do all roads in the country.
Dr. Musokotwane who was Cabinet Minister under previous MMD government says the PF government should also realize that over spending is one of the factors negatively impacting the exchange rate.


He says this means that much as roads are needed in Zambia, expenditure on road projects should be sustainable.
Dr. Musokotwane states his advice on the need to keep in mind how over spending is causing disequilibrium in the foreign exchange, is in addition to how the mining sector has been mismanaged.
Meanwhile Dr. Musokotwane has dismissed as untrue accusations that the current power crisis in Zambia has come about because of failure by previous governments to invest in the power sector.
Dr. Musokotwane says it is in fact the PF government that is to blame for the crisis because it has delayed projects that the MMD government left for more power generation.
He has referred to 750 Megawatts private sector led project at Kafue Gorge lower as one such project that was needlessly delay by the PF government which cancelled the tender for no valid reasons.