Zambia’s 2027 National Budget is being presented to Parliament today, with Finance and National Planning Minister Dr Situmbeko Musokotwane expected to outline how Government plans to raise and spend public money in the coming year.
But what exactly does the National Budget mean, and why does it matter?
Simply put, the National Budget is Government’s financial plan. It shows how much money Government expects to collect through taxes, duties and other sources, and how much it plans to spend on national programmes and public services.
It also outlines how Government intends to manage borrowing, control expenditure and support economic growth.
For ordinary Zambians, the Budget matters because its decisions can affect the cost of living, taxes, employment opportunities, access to healthcare and education, as well as the support available to farmers and businesses.
For businesses, the proposed tax measures, access to financing and investment incentives will be important in determining the environment in which they operate and expand.
The 2027 Budget is also expected to show how Government intends to move from stabilising the economy towards creating more opportunities for production, investment and job creation under the Grow Zambia Agenda.
By Rachel Mumba
