By Lovemore Khomo
Democratic Progressive Party (DPP) has described the 2023/24 National Budget as risky and wasteful that lacks credibility and fails to address problems engulfing the country.
DPP Finance spokesperson, Ralph Jooma made the remarks when officially responding to the budget proposal on Thursday at Parliament.
Jooma, who is also Member of Parliament for Mangochi Monkey Bay, cautioned government’s huge borrowing which has tripled in the past 3 years.
“A Budget which intends to borrow resources equivalent to 1/3 of its size is a very risky Budget, because what if the lenders of the Money will not come forth,” Jooma responded
He added, “A Budget anchored by unrealistic assumptions of 2.7%GDP growth in 2023 and 3.2% growth in 2024 lacks credibility. We all know that our situation of lack of Forex and persistent Blackouts has not changed. Even attempts to change this situation have not been made.”
He further told the house that current situation does not reflect what was put on Manifestos of all political parties that promises, ‘Country be secure, its Borders and territory shall be guarded; the Lives and Property of its people shall be protected’.
“A Budget whose biggest vote allocation is public debt service is a wasteful Budget because this particular Budget line does not add any value to the lives of the people. If anything, it only exists to deplete the little wealth we have,” He cautioned.
In addition Jooma enlightened that budget is highly for consumption as Development Budget 2023/24 falls short of the 25% threshold, and from experience real implementation will not exceed 75% of the allocation.
He also expressed concern over reduction of AIP beneficiaries from 2.5 Million to only 1 Million Households that demonstrates Budget is not sensitive to social needs and therefore, not pro-poor.
He concluded, “2023/24 Budget is not inspiring the population with any hope. If anything it is itself a lost opportunity.”
