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By Tarisai Mudahondo/ Memory Chikavhanga
Zimbabwe Coalition On Debt and Development (ZIMCODD) held a refresher workshop on public expenditure today in Harare.
The programme, which comprised members of Parliament highlighted their expectations in the 2024 budget in terms of health issues, infrastructure, education, social inclusion and other key factors before the people’s budget.
Senior Economist Analyst for ZIMCODD Zvikomborero Sibanda presented the Public Debt Management and its Impact on the National Budget.
He said, “Resource-backed loans end up affecting citizens as they lose out baking these loans which are even more significant versus the debt for example the $200 million borrowed from China mortgaging Platinum and the Trafigura fuel debt also being repaid through gold and nickel returns”.
The economist analyst then recommended dialogue with creditors which is reform implementation and the building of capacity to repay debts and ensuring massive social inclusion in the national budget.
Speaking at the same event Economist from the University of Zimbabwe Michael Pasara said there is a need for social inclusion and sustainable funding in budget processes to curb inadequate domestic resource mobilisation”.
He emphasized that the country should rely on resources rather than debt.
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