Budget Expected On Friday September 25

Finance Minister Bwalya Ng’andu is expected to deliver the budget for 2021 on Friday 25th September, a ministry spokesperson has announced. 

Speaking to ZNBC, ministry of finance representative Chileshe Kandeta said the tax policy review committee and the non-tax policy review committee were still finalising their recommendations. He said the minister remains committed to presenting the budget in three weeks’ time. 

Mr Kandeta added that all officials involved in budget consultations had been instructed to reflect deeply on the matter and to implement well-structured engagement programmes with development partners, ministries, provinces and agencies. 

The finance ministry also recorded its thanks to President Lungu for calling on businesses to engage with the ministry and to make submissions to help develop the government’s 2021-2023 medium term expenditure framework, as well as this year’s budget. 

This year’s budget comes at a critical time for the country as bills continue to mount amid a coronavirus spending spree. The government still has to pay off over US$ 11 billion of external debts. 

It also comes after President Lungu’s controversial sacking of central bank governor Denny Kalyalya last month. The decision prompted criticism from the IMF - one of Zambia’s major creditors - which said “it is imperative that central banks’ operational independence and credibility is maintained, particularly at this critical time when economic stability is threatened by the Covid-19 pandemic”.