2025 National Budget Set to Address Key Economic Challenges
With the recent opening of the 13th National Assembly by President Dr. Hakainde Hichilema, expectations are building for the upcoming announcement of the 2025 national budget by Minister of Finance and National Planning, Hon. Dr. Situmbeko Musokotwane. Scheduled to take effect in January 2025, this budget aims to tackle pressing economic challenges while fostering growth and development.
Economic expert Mr. Kelvin Chisanga outlines several critical areas that require urgent attention. He emphasizes that the 2025 fiscal budget will serve as a response to the challenges faced since 2021, aiming to create a breakthrough in tax perspectives, social safety nets, and recovery from external shocks.
The budget is anticipated to increase social support funding despite significant economic headwinds. Key policy measures will focus on unlocking economic difficulties and enhancing productivity, with continued support for education and health sectors in line with the UPND manifesto.
Mr. Chisanga highlights that healthcare reform, human capital development, and tax compliance are vital for sustainable growth. Furthermore, he stresses the importance of closely monitoring government securities and funding sources to maintain budget integrity and prevent deficits.
Lastly, Mr. Chisanga urges the need to finalize debt portfolio discussions before the financial year ends to ensure the budget can operate effectively in the upcoming year. As the nation looks forward to the budget announcement, the focus remains on navigating economic challenges and setting a foundation for future growth.
