KALONDE NYATI, Lusaka
ZANACO says the 2021 national budget paints a picture of an economy that is headed for recovery while attempting to ensure macroeconomic stability as evidenced by safety nets provided to households, workers and the tourism sector.
In its 2021 national budget analysis entailed ‘Anatomy of Zambia’s 2021 budget: An embodiment of economic recovery and resilience’, the Zanaco research unit said the upward shift in the pay as you earn (PAYE) tax bands by K700, increase in the number of beneficiaries under the social cash transfer and 20 percent reduction in the corporate income tax for hotels and lodges will offer relief.
To stimulate economic recovery and building resilience to safeguard livelihoods and protect the vulnerable, Government has increased PAYE threshold to K4,000 from K3,300, with the number of vulnerable households benefiting from social cash transfer increased to 994,000 from 700,000 and each receiving K110 monthly from K90, among other interventions.
“Coming from a year that has caused so much economic pain globally and domestically, the budget objectives paint a picture of an economy that is CLICK TO READ MORE