2025 National Budget Praised by Stakeholders
On Friday, 27 September, Finance Minister Situmbeko Musokotwane unveiled the government’s budget for 2025.
Dr Musokotwane outlined the Government’s key macroeconomic objectives:
Attain a GDP growth rate of 6.6%.
Reduce inflation to the target range of 6-8%.
Maintain international reserves above 3.0 months of import cover
Increase revenue to 21.3% of GDP.
Maintain a deficit target of 3.1% of GDP.
Limit net domestic borrowing to 1.9% of GDP.
“The 2025 budget is premised on economic recovery and promoting growth to improve the livelihoods of our people,” explained Musokotwane.
A range of stakeholders have welcomed the 217 billion Kwacha 2025 National Budget.
Economist Mutisunge Zulu applauded the government for raising the domestic revenue target to more than 83 per cent.
Mr Zulu also praised the government for increasing the Constituency Development Fund to 36.1 million Kwacha per constituency.
“The budget shows macroeconomic direction, and the macroeconomic targets show that growth is set to bounce back”, added Mr Zulu.
Trade Expert Gilbert Nkamba praised the government for prioritising infrastructure development in 2025 and maintaining stability in the mining tax regime.
Mr Nkamba said, “The mine is very critical to our national development because it generates foreign exchange and improves the buying power of the Kwacha.”
Meanwhile, Economic Analyst Yusuf Dodia has described the 2025 National Budget as ambitious and a significant improvement compared to the 2024 National Budget.