Speaker, external sector performance as at endseptember, 20 improved. Oct 11, 20 the zambian economist is a private website produced and maintained in my own time, and reflects solely my personal opinions. Oct 12, 2012 minister of finance alexander chikwanda today announced a k32. Sir, on 1st january 20, we successfully rebased the kwacha. Government budget in zambia averaged 3 percent of gdp from 1998 until 2019, reaching an all time high of 18. As we enter the new year, i want to pay tribute to you all for your resilience and solidarity as we tackle the challenges facing the country.
Summary and conclusions was it able to set up a joint knowledge management system that. The 2014 national budget statement towards an empowered society and a growing economy presented to the parliament of zimbabwe on 19 december, 20 by hon. Zambia before and after the changes introduced by the 2015 budget. Zambia will remain one of the few countries in the.
Alexander chikwanda mp, minister of finance and national planning delivered to the national assembly on 9th october 2016. Speaker, the budget for 20 is formulated against the backdrop of significant challenges in both the global and domestic economies. The overview provides a guide on the measures announced in the budget as. An evaluation of budget support in zambia 7 7 levels and composition of public spending 118 7. Lusaka zambias fiscal deficit will exceed the targeted 4. The zambian economist is a private website produced and maintained in my own time, and reflects solely my personal opinions. Speaker, i beg to move that the house do now resolve into committee of supply on the estimates of revenue and expenditure for the year 1st january 2010 to 31st. The national policy on climate change should be put in place and institutional arrangements, capacities and adequate resources deployed to develop a national action. The 2017 national budget policy measures and interventions seek to ensure realisation of the overall objectives of the zimbabwe agenda for sustainable socioeconomic transformation zim asset 202018 programmes and projects under implementation by government. The national budget is the economic, political and administrative life of any country and as such is among the highly debated piece of parliamentary legal documents every year, this is what makes the role of the minister of finance, as the one legally mandated by the constitution in zambia. As zambia celebrates her 50th golden independence jubilee, the pending 2015 budget presentation in october 2014, serves as an important mile stone, as it. This page provides zambia government budget actual values, historical data, forecast, chart, statistics, economic calendar and news. The 2015 budget is better than the 2014 one because although both are developmental the 2015 has a more easier to manage fiscal deficit than the 2014. There is a saying in the financial circles that the national budget is a set of thousands of wishes that have to be satisfied by meager resources from the very people who are sending those wishes.
Government has undertaken shortterm measures to address the problem, including importing emergency power from abroad, but admits that this is not a sustainable solution. The finance minister, situmbeko musokotwane mp delivered the budget statement today. This is an analysis of the 2015 national budget in a simplified manner to allow the reader understand the economic direction of the country. It moved away from a system comprising a uniform royalty rate 6 percent, corporate income tax and a variable income tax, to a royalty only system with differentiated rates for underground mines 8 percent and open cast mines 20 percent. Now, more than ever, businesses need to act with the best knowledge possible and move forward with confidence in order to. Letter to the editor winners and losers of the 2018 budget. Dec 12, 2016 the centre for trade policy and development ctpd understands that the national budget is a vital economic policy instrument, because it reflects the choices the government has made to realize. The national budget framework paper has been done in. As at 30th september, 20, the bank of zambia had withdrawn k3.
Speaker, i beg to move that the house do now resolve into committee of supply on the estimates of revenue and expenditure for the year 1st january, 2015 to 31st december, 2015 presented to the national assembly in october 2014. The 2015 budget introduced major changes to the mining fiscal regime. The government has proposed a budget of about k72 billion for 2018, which translates into nearly 26 per cent of the countrys gross domestic product gdp. It is still a relatively smaller amount than the budget allocation in 2015. It is not intended to be a substitute for detailed research or the exercise of professional judgement.
Details of the budget, which unless otherwise indicated will apply from 1 january 2016, are summarized below. The 2016 national budget was presented by the honourable. The theme for this years budget is fiscal consolidation to safeguard our past achievements and secure a prosperous future for all t he october 2015 zambia budget address for the year 1 january 2016 to 31 december 2016 was delivered to the national assembly by the minister of finance and national planning. Minister radebe recently released the latest development indicators report. The cash exchange exercise will continue until 31st december 2015 to enable all zambians. Even though it is beautiful, it can also be expensive.
Formal analysis to follow, but on a quick read this appears to be a pretty disappointing budget. Now, we must again use this remarkable national capability to energetically and. Zambia budget 2016 beat the odds 9 taxation changes prebudget tax changes the income tax amendment act no. Felix mutati our finance minister presented the national budget for 2018 on friday, september 29 2017. The 2016 national budget statement building a conducive environment that attracts foreign direct investment presented to the parliament of zimbabwe on 26 november, 2015 by hon. Contents 2 2016 budget commentary 6 2016 sectoral impact 14. Weathering the storm zambias 2016 national budget pwc analysis and outlook commentary mining sector and on the economy as a whole. The national budget is the key instrument through which government implements its policies.
Apart from ensuring resilience of the economy against external shocks, the major challenge is to address the huge backlog of development arrears and the structural deformities and imbalances in our national. The huge external debt and disease have exacerbated poverty. Economic developments in 2014 current estimates are that the zambia economy. Statements published on the zambian economist do not represent the views or policies of employers, friends, family, past or present, or anyone i may or may not be associated with. For example, while agriculture is commonly believed to have high potential for poverty reduction, it does not get adequate resources. This implies that civic or citizen engagement is an ongoing process that requires continuous participation. Speaker, in 2014, the treasury took measures to consolidate the fiscal position. The znfus mission is to promote and protect the interest of members as farmers, individuals corporationcompanies and other organisations involved in the business of farming in order to achieve sustainable economic and social development. These include increasing the revenue base to drive sustained inclusive growth and reduce the national debt burden. Analysis of the planning and budget process in zambia. Zambia tax platform press briefing on zambias 2017 national. However, the existing legal framework is inadequate to ensure budget transparency, participation and accountability. It is on account of these challenges that the 2015 budget deficit is expected to widen to 6.
An overview of zambias economic and poverty situation. These consultations included consultations with local governments, sector ministries, departments. Public and private funding of basic education in zambia. Pdf 2015 zambia budget analysis kampamba shula academia. Grant thornton zambia budget bulletin 2016 2 2016 budget commentary the 2016 national budget was presented by the honourable minister of finance to the national assembly on 9 october 2015. Pfm act 2015 requires that the national budget is prepared in consultation with the relevant stakeholders. The new budget has triggered anxiety among stake holders and civil society groups of how the pf government hopes to finance such a leap in expenditure. If we remain united and energised around its implementation government, labour, business and all south africans we will continue to make progress towards a.
The publication of the third edition of the national tuberculosis and leprosy programme ntlp manual marks a big step forward because it underscores the programmes commitment to providing the latest knowledge and developments in tb and leprosy control in zambia. Lacerda led an expedition from mozambique to the kazembe region in zambia with the goal of exploring and to crossing southern africa from coast to coast for the first time, and died during the expedition in 1798. Minister of finance alexander chikwanda today announced a k32. Section 2 of the public finance management pfm act 2015 requires that the national budget is prepared in consultation with the relevant stakeholders. Welcome to the zambia national farmers union website. Prebudget consultations this was also underscored by stakeholders during the. The 2016 national budget statement building a conducive environment that attracts foreign direct investment presented to the parliament of zimbabwe on. The two pieces of law came into effect on 1 july 2015 with the following key provisions.
National child policy 2006, a draft national plan of action for children npa 20082015, 1zambia operational plan report fy 2011, pepfar, page 2. But dont worry, we got you covered with this list of things to do and ways to get around zambia on a budget. The theme of the 2016 budget is fiscal consolidation to safeguard our past achievements and secure a prosperous future for all. Speaker, i beg to move that the house do now resolve into committee of supply on the estimates of revenue and expenditure for the year 1st january 2014 to. Building resilience and unlocking potential zambias 2017 national budget pwc analysis and outlook the economy overall global economic activity when compared to 2015. Budget speech 2010 2 on matters of concern to all of us building a better south africa for our children and grandchildren. The main details of the 2015 budget are given in part. Budget for 2016 details on 9 october 2015, the budget for 2016 was presented to the national assembly by the minister of finance. The national budget framework paper has been done in line with this section. From the people to the wildlife, zambia is one of africas hidden gems. The ministry of finance says the 2018 national budget will be presented to parliament on september 29 this year.
The countrys trade deficit has also widened over the year on account of reduced exports earnings from the mining sector. Swazilands national budget speech 20162017 growth for all with all through optimising, innovating, boosting domestic revenue and spending efficiently minister of finance, martin dlamini, budget speech 20162017 the minister of finance tabled the e 20. Neither ey zambia nor any other member of the global ey organization. Civil society engagement in the national budget process 3 engagement as a process, not an event that closely involves people in the economic, social, cultural and political process that affect their lives. Pdf the 2015 zambia national budget analysis salim. National development plan which was released in june 2017.