The Member of Parliament for Madina constituency, Francis-Xavier Sosu has said “Poor economic management is what has resulted in deficit of 16.0% for fiscal deficit management.”
According to him, the government announced a current deficit position of 11.7% in the 2021 budget statement, in contrast to the IMF April 2020 Fiscal Monitor, which put the deficit at 16.0%, far higher than the 13.9% and 5.7% for Zambia and Cote d’Ivoire respectively within the same period.
“This is disappointing given the enactment of the Public Financial Management Act (PFMA) and the establishment of the Fiscal Council during this Administration. 16.0% deficit position does not support the claims of being better managers of the economy.”
Mr Sosu said these in an article.
Read the full article below: