CHIKWANDANOMICS, THE BUDGET AND THE MINES
THE economics of Zambia’s Finance Minister, Alexander Chikwanda, fondly referred to as chikwandanomics by the Zambian online community can be confusing. In his 2015 national budget address under the theme, Celebrating our Golden Jubilee as One Zambia One Nation by Making Economic Independence a Reality for All , he proposes to spend K46.7 billion representing an overall increase in expenditure of 9.3%. This increase in expenditure comes against a backdrop of a widening overall fiscal deficit and increasing inflation. Overall the budget carries a theme of continuity without major variations from the 2014 allocations across all sectors. The social sectors continue to receive lower funding as the government continues with its infrastructure development drive. Zambia currently spends half of her national budget on the public sector wage bill owing to a huge salary increment government gave some civil servants which has proved unsustainable and government had to borrow a billion doll