2023 budget to be unveiled this afternoon
Finance and National Planning Minister, Situmbeko Musokotwane is this afternoon expected to present the 2023 National budget.
This is the second Budget that the New Dawn Government is presenting since assuming office in 2021.
The Budget is expected to start contributing to the targets set out in the country’s 8th National Development Plan for 2022 to 2026.
The targets include real Gross Domestic Product -GDP- growth of above 4%, reducing fiscal deficit by 3.6%, contain borrowing and attain international reserves of up to 3 months of import cover.
And according to the 2023 National Budget Green Paper, released by the Ministry of Finance, real GDP growth has been limited to at least 4 percent.
Government has also made several Landmark decisions, in the past 12 months, such as full introduction of free education, as well as the recruitment of over 40, 000 civil servants.
These are developments, which will call for an obvious increase in revenue and expenditure estimates, for the 2023 national budget.
Zambia has also accessed the International Monetary Fund -IMF- bailout package meant to help restructure the country’s debt.
To this effect, government is expected to start full implementation of the home-grown economic recovery programme.