Players in Zambian economy must strategise around 2021 National Budget – PMRC

BUUMBA CHIMBULU writes@SunZambianTHE Policy Monitoring and Research Centre (PMRC) has called on all players in the economy to collectively harmonise strategies and efforts towards the implementation of the 2021 National Budget.PMRC has stressed that the budget had been formulated amidst constrained global and domestic economy, thereby needing stakeholders support.In its 2021 national budget analysis, PMRC indicated that the plan was aimed at steering the nation towards a path of economic recovery amidst the devastating effects of the Covid-19 pandemic.“The 2021 National Budget has attempted to respond to the theme by proposing measures aimed at stimulating economic recovery through practical and tangible support to businesses.“The call now remains for all players in the economy to collectively harmonise strategies and efforts in order to contribute towards the implementation of the budget,” PMRC said.On its part, PMRC was committed to playing its critical role towards successful implementation of the 2021 National Budget.PMRC however regretted that disruptions in supply chains and containment measures had a severe impact on sectors such as tourism, construction, wholesale and retail trade as well as manufacturing.Further, PMRC said, the implementation of the Economic Recovery Programme would be key as the nation set out on a path of strict adherence to resolutions, strategies and measures all aimed at steady recovery process.PMRC reiterated the need for a Citizen’s Budget to promote and support participation in the budgetary process for it to be considered credible and owned by citizens.“Public participation is enshrined in Article 205 of the Constitution Amendment Act No. 16 of 2016, obligating public participation at all levels of Government in the formulation of financing frameworks, development plans and the preparation of annual budgets.“This is more so because domestic revenue is expected to be a major component of the resource envelope for 2021,” PMRC said. The Sun