Economist and business consultant dennis wood has pointed out that the country’s domestic revenue base has been shrinking as it has failed to grow as expected.
Mr Wood explained that the domestic revenues are below the averaged 17.1% of the fifth national development plan and are now much more below 18%.
Explaining why the country’s debt has been growing so fast, mr wood said government has borrow so that it can finance the programmes and projects that it has embarked on.
And Mr Bob Sichinga stressed that the minister of finance knows that there is a problem in the country as he has all the necessary figures.
He cautioned Zambians to be alert that the country is in a dilemma as can be explained from the ever increasing “pay as you earn taxes” slapped on ordinary citizens.
Mr Sichinga further explained that all growth that the country has recorded is not generated from revenues of Zambian tax payers but comes as result of donor support.
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