Thursday, February 05, 2009

(DAILY MAIL) Mark O’Donnel applauds 2009 budget

Mark O’Donnel applauds 2009 budget

UNION Gold Chairman Mark O’Donnell has lauded Government on the 2009 national budget as it would enable the country continue on its growth path.

Mr O’Donnell who is also a prominent businessman said he was happy with the budget because it was a continuation of existing policy which had enabled Zambia to make good economic progress over the last 10 years.

“Overall, I feel that under the circumstances this is a very good budget proposal and should enable us to continue on a growth path,’’ he said.

Mr O Donnell, who is also former Zambia Association of Manufacturers president, said in response to a press query that despite the difficulties, the Minister of Finance and National Planning had put forward a budget that targets growth of 5 per cent.

“I feel that Government is well aware of the problems that are looming and the minister is doing a good job under very difficult circumstances.

“Some concessions have been given to manufacturing but probably not as many as could have been given under better circumstances. I think the Minister has moved to rectify some anomalies that were there in the system and making it difficult for certain sectors,” he said.

He said farmers have been given some genuine relief on inputs. which was good for the sector and could lead to production that was more efficient.
He said the attempt to address the cost of doing business and red tape was welcome.

“The ministers statement on red tape was very clear in that he intends to take measures to reduce the level of bureaucracy that businesses have to deal with on a day to day basis,” he said.

He however said 2009 would be a very difficult year not only for Zambia but also for all countries around the world.

“There is a global problem and we in Zambia are not going to escape from it. We are going to feel it here but with good policy, we should not feel it as much as other countries are feeling things,” he said.
He said export earnings were most likely to drop.

Labels: ,


Post a Comment

Subscribe to Post Comments [Atom]

<< Home