By SHERRY CHABALA
THE Centre for Trade Policy and Development (CTPD) says there is need to scrutinise the performance of taxation as a pivotal instrument for domestic resource mobilization as Zambia strives to make its public debt sustainable.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”4,5,6″ ihc_mb_template=”2″ ]
CTPD Public Finance Management Researcher Matrina Mumba says this approach is important to avoid the accumulation of further debt in the pursuit of financing the national budget especially that the first half of 2023 has been characterised by unmet tax revenue targets.
Ms Mumba said tax revenue mobilisation was of paramount importance to Zambia’s budget financing because it reduces dependency on external sources of financing.
She said if Zambia was to see economic progression, dependency on external borrowing to finance the national budget should be an issue of the past.
Ms Mumba said going forward; her organisation expected substantial allocations to key sectors, including critical areas such as education and healthcare in the 2024 national budget.
According to the Zambia Revenue Authority, in the first half of the year, tax revenues declined by 6.3 percent of the target compared to the same period in 2022.
[/ihc-hide-content]
