Economy can’t grow if govt keeps domestic debt high – Prof Saasa

ECONOMIST Professor Oliver Saasa says the increase in domestic debt by government is crowding out the private sector. Commenting on revelations by Ministry of Finance permanent secretary for budget and economic affairs Emmanuel Mulenga Pamu that there was an increase of domestic debt from K130.2 billion to K143.8 billion recorded at the end of December 2020, Prof Saasa said the increase in domestic debt would negatively affect the economy. “The State is crowding out the private sector quite significantly because they are fishing from the same pond. If I go to the bank and I find that I am unable to access the money that I need because the government has mopped it up or because of the increased appetite…...