2027 national budget should be stable & growth focused – Zambia Chamber of Mines
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NewsThe Zambia Chamber of Mines (ZCM) has […]
The Zambia Chamber of Mines (ZCM) has expressed optimism that the 2027 national budget will be a catalyst for economic growth and development. Zambia’s Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, is set to deliver the 2027 National Budget to the National Assembly on Friday, October 30, 2026.
In an interview with the Zambian Business Times (ZBT), the ZCM’s Chief Executive Officer, representing the country’s official industry association for large, medium, and small-scale mining companies, exploration firms, and allied service providers—emphasized the sector’s expectations for a budget that prioritizes growth and stability.
“Our current expectation is for a growth-oriented budget, one that will foster economic expansion and provide the stability necessary for sustained growth,” he stated. “Our emphasis is on stability, as it is essential for driving growth. This is a broad expectation, and we have expressed it deliberately.”
“We are expecting a growth budget, a budget that will incubate growth that’s all we are looking for, stability which will give us growth.”
“We are just saying stability which will enhance growth and that is a general statement deliberately so.”
He added that the Chamber will offer further commentary following the official delivery of the budget by the Minister of Finance.
Mining remains the backbone of Zambia’s economy, contributing over 70% of the nation’s export earnings and approximately 13.7% of its Gross Domestic Product (GDP). According to the 2026 national budget, seen by ZBT, the Ministry of Finance and National Planning allocated about K1.2 billion to the mining sector out of a total national budget of K253 billion for 2026. However, it is yet to be determined whether this allocation will be maintained, reduced, or increased in the forthcoming budget.
The sector has recently experienced both positive developments and challenges, including a surge in illegal mining activities and mining accidents, as the country pursues its ambitious target to increase annual copper production to 1 million metric tons in 2026 to 3 million metric tons by 2031.
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