2014 budget might have a bigger deficit – Musokotwane

Situmbeko Musokotwane
Former Finance Minister Situmbeko Musokotwane has expressed fears that the 42.68 billion kwacha 2014 national Budget proposed by the Patriotic Front (PF) might have a big deficit.

Dr. Musokotwane says this because expenditure has risen while taxes have been framed at lower rates.

Dr. Musokotwane who was cabinet Minister under previous MMD government has pointed about the 3 thousand Kwacha Pay As You Earn Tax exception threshold as one of the reduced taxes in the 2014 national budget that might contribute to a budget deficient.

Dr. Musokotwane who has congratulated the general outlook of the third national budget of the PF government says he will however study the full document of the budget in order to make a comprehensive opinion over it.

The former finance Minister was speaking to Qfm in an interview shortly after the presentation of the 2014 national budget by Finance Minister Alexander Chikwanda