Government said the 2027 National Budget will be measured by results and not pronouncements. Minister of Industry Noel Nkoma said the Budget will be judged by the businesses that grow the investments and materialise jobs among others. He was speaking at the Zambia Institute of…

Government said the 2027 National Budget will be measured by results and not pronouncements.

Minister of Industry Noel Nkoma said the Budget will be judged by the businesses that grow the investments and materialise jobs among others.

He was speaking at the Zambia Institute of Chartered Accountants (ZICA) 2027 Post-Budget Analysis Dinner in Lusaka.

Mr Nkoma said the National Budget is the Government’s most powerful tool for driving national development, as it reflects Government’s priorities, aspirations and policy direction.

He said the 2027 Budget comes at a pivotal moment in Zambia’s economic transformation journey and has been crafted around the Grow Zambia Agenda.

He said the agenda seeks to stimulate economic expansion, support enterprise development, create jobs, increase productivity, attract investment and improve the quality of life for all citizens.

The Minister added that it was fitting for stakeholders to gather after the presentation of the Budget to analyse its provisions and understand its implications for the Grow Zambia Agenda.

He said the budget process is strengthened by stakeholder participation both before and after the Budget is presented.

“Before formulation, Government undertakes extensive consultations with business associations, professional bodies, civil society, academia and other key stakeholders to ensure the Budget reflects the realities of the economy and responds to the needs of citizens and industry,” he said

Mr Nkoma said discussions at forums such as the ZICA dinner help businesses understand emerging opportunities, enable investors to assess likely economic trends and allow stakeholders to align their plans with national development priorities.

He said such engagements strengthen collaboration between Government and the private sector, which remains a critical pillar of Zambia’s economic transformation agenda.

The Minister said the Government recognises that sustainable economic growth cannot be achieved through public sector interventions alone, but requires a vibrant and competitive private sector capable of investing, innovating, producing and creating employment.

He said the Budget therefore seeks to empower businesses, improve the operating environment and unlock opportunities for entrepreneurship and industrial development.

ZICA President Joseph Matimba, stated that the Budget comes at an important time as Zambia seeks to consolidate macroeconomic stability while accelerating growth, stimulating investment and addressing the challenges facing people.

He named the cost of living, unemployment, poverty, energy security and low productivity as critical areas requiring sustained attention.

“The National Budget must therefore be assessed not only in terms of fiscal allocations and policy measures, but also in terms of its ability to stimulate productive economic activity, support enterprise development and improve the livelihoods of ordinary Zambians,” Mr Matimba said.

He said the industrial sector has a particularly important role to play, noting that a stronger manufacturing base, increased local production and greater value addition are essential to creating jobs, reducing dependence on imports and strengthening Zambia’s competitiveness in regional and international markets.

Mr Matimba said the Budget must also be viewed within the Government’s Grow Zambia Agenda, which seeks to accelerate economic transformation and create inclusive growth through expanding production and investment in agriculture, mining, energy, manufacturing and tourism.

Meanwhile, ZICA Chief Executive Officer, Anthony Bwembya, said that the National Budget is more than a statement of Government’s revenue and expenditure priorities, but reflects national aspirations and provides a framework for stimulating investment, supporting industrial development, creating employment and improving livelihoods.

“Through sound financial management, transparency, accountability and professional advice, our members contribute to strengthening public financial management, supporting business growth and building confidence in our economy,” Mr Bwembya said.