Successful budget implementation key – Think-tank

By BUUMBA CHIMBULU
SUCCESSFUL implementation of the 2022 budget will require consistency in the demonstrated goodwill towards its execution as it presents an opportunity for growth and development through a people-centred strategy.
This will also require a paradigm shift in the mind-set of all stakeholders, to deliver development through economic growth, job creation and good governance, according to the Policy Monitoring and Research Centre (PMRC) Executive Director, Bernadette Deka-Zulu.
On October 29, 2021, Finance and National Planning Minister, Situmbeko Musokotwane unveiled a K172.9 billion national budget for 2022 under the theme “Growth, Jobs and Taking Development Closer to the People.”
Ms Deka-Zulu stressed that successful implementation would need Government to expedite domestic resource mobilisation, engage cooperating and development partners for supplementary funding to key economic sectors such as agriculture and tourism.
“This budget presents a great opportunity for growth and development through a people-centred strategy.
“It has also demonstrated amplified efforts towards reducing developmental inequalities by increasing the Constituency Development Fund (CDF) from K1.6 million to K25.7 million per constituency, which entails the taking of resources to the grassroots, which is very commendable,” she said.
Ms Deka-Zulu indicated that the 2022 budget presented an opportunity for economic transformation, while restoring growth and development in the economy
She however admitted that the budget was delivered in an environment characterised by anxiety and high expectations.
Ms Deka-Zulu said the budget was set to put into motion the plans and aspiration of the new dawn administration to lift the economy out of the pandemic induced slump, resolve the fiscal deficit and ease the debt burden.
“The successful implementation of the 2022 budget will require consistency in the demonstrated goodwill towards budget execution and will need Government to expedite domestic resource mobilisation, engage cooperating and development partners for supplementary funding to key economic sectors.
“However, for this to be achieved it will require, a paradigm shift in the mind-set of all stakeholders, in order to deliver development through economic growth, job creation and good governance,” Ms Deka-Zulu said.