PRESS RELEASE BY THE ZICA PRESIDENT – ZICA CALLS FOR STRATEGIC REFORMS IN BORROWING AND TAX POLICY TO SAFEGUARD ECONOMIC STABILITY
by Chisomo Zulu
The Zambia Institute of Chartered Accountants (ZICA), has expressed concern over the near-doubling of Net Domestic Financing (NDF) from K15.4 billion to K30.2 billion, calling it a “marked deviation” from fiscal discipline. The Institute highlighted that such borrowing levels could exacerbate macroeconomic imbalances, crowd out private sector credit, fuel inflation and reintroduce damaging currency risks especially through the inclusion of a USD denominated K10.8 billion loan from domestic banks. Read more…
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