Govt Launches Consultations for 2025 National Budget and Medium Term Budget Plan
The Zambian Government has initiated the groundwork for the 2025 National Budget and the 2025-2027 Medium Term Budget Plan (MTBP) in accordance with the Planning and Budgeting Act.
These pivotal economic policy instruments will play a crucial role in shaping the nation’s economic trajectory and development priorities.
To ensure an inclusive and transparent process, the Ministry of Finance and National Planning has announced broad-based consultations. All stakeholders, including the private sector encompassing micro, small, medium, and large enterprises, public sector entities, civil society organizations, individuals, and other interested parties, are encouraged to submit proposals.
These proposals may cover tax, non-tax (such as user fees and fines), and expenditure suggestions for potential inclusion in the upcoming budgets.
The consultation period will extend from April 1st to April 28th, 2024, allowing ample time for diverse stakeholders, including youth and women groups, to actively engage in the formulation of the budgets.
Notably, the recent declaration of the ongoing drought as a national disaster and emergency by His Excellency, President HAKAINDE HICHILEMA, underscores the urgency of effective budgetary planning.
The severe drought, attributed to the el Niño weather phenomenon, has adversely affected key sectors such as agriculture, water, and energy, posing significant risks to national food security and livelihoods.
In light of these challenges, the Government appeals for robust participation to streamline taxation, foster a conducive business environment, create employment opportunities, and address the impacts of climate change on critical sectors.
To guide submissions, the Ministry has outlined specific criteria, including identifying shortcomings in the current tax and non-tax policies, specifying areas requiring interventions, aligning expenditure with the Eighth National Development Plan (8NDP), and justifying proposed measures and their anticipated benefits.
All proposals will undergo objective evaluation, with an inter-ministerial team available for further discussions or clarifications as needed.
Detailed guidelines for submissions will be disseminated across various media platforms, with the Ministry providing additional support through its communication channels.
In parallel, the Zambian Government will host a Public Forum on the Debt Restructuring Process on April 3rd, 2024, engaging stakeholders from the media, academia, and private sector associations. The forum aims to provide insights into ongoing efforts to manage the country’s debt obligations.
For more information and updates, stakeholders are encouraged to engage with the Ministry through its communication channels.
This is contained in a statement ussed by Felix Nkulukusa, Secretary to the Treasury at the Ministry of Finance and National Planning.
