Govt Urged To Develop And Implement A Credible Debt Management Plan Prioritizing Social Sector Spending

By Leah Ngoma

The Center for Trade Policy and Development-CTPD- has emphasized the need for government to develop and implement a credible debt management plan which prioritizes social sector spending.

Speaking during the launch of the findings of the study dubbed ‘ implications of public debt on expenditure towards children’ in Lusaka today, CTPD Researcher, Bright Chizonde said Zambia risks failing to achieve both its vision 2030 and the sustainable development goals due to debt servicing.

Mr. Chizonde is of the view that in taking steps towards achieving fiscal consolidation through implementing austerity measures and improved debt management, social sector spending should not be crowded out.

And Mr. Chizonde says there is need for government to mitigate against the negative effect of interest payments on its allocations towards the education sector adding that education is critical for development and thus the need to prioritize the sector.

PHOENIX FM NEWS

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