‘FISCAL POLICY MODEL FAVOURS FOREIGNERS’

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By BUSINESS REPORTER

THE current fiscal policy model favors foreigners and compromises local innovation and industry, says Movement for National Transformation (MNT), President Daniel Shimunza 

In a press statement made available to the Daily Nation, Mr Shimunza advises government to foster a fiscal policy that reflects real growth and not a Gross Domestic Product (GDP), model which is based on a Foreign Direct Investments model.

Mr. Shimuzi said there is need to develop an effective fiscal policy template.

“As MNT, we believe that Zambia must develop a fiscal policy template that will make us move from decline- recovery, to growth beyond 6-7 percent and become a dominant economic power house in Africa.

“Recovery is a short term mechanism; hence, we must shift to real growth, and dominance. This is possible by transformative leadership, limited nationalisation policy, and effective balance of trade, to feed the export market, create smart sustainable jobs, and implementation of a strategic industrialisation agenda for aggressive economic transformation,” he said.

He said the time for transformation to first world advanced development and corporate governance best practices in the  macro-economic policy was now adding that there is need for stakeholders to push the agenda.

He explained that implementing a new model will help give a human face to real growth, not statistical growth projections adding that the quality of life of Zambian people must improve as a true measure of economic stability, and growth.

Mr. Shimunza noted that short – term and medium term planning will not bring the much-needed real growth.

“The problem with the short – term projections is that they are lacking long term impacts, and planning for growth beyond 6 percent.

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