PHILIP CHISALU
Lusaka
GOVERNMENT says it is satisfied with the progress made under the Eighth National Development Plan (8NDP), but that more needs to be done, especially around poverty reduction and job creation. Minister of Finance and National Planning Situmbeko Musokotwane has also called for hard work and smart ways of doing things in order to generate the much-needed revenue for the country.
The minister said this yesterday during the national development coordinating committee meeting to review economic performance in the first quarter of 2026.
“I think the 8NDP is one of those that we can proudly say we have made progress in,” he said.
And Dr Musokotwane has described Zambia’s first quarter economic performance as fairly robust.
He noted the decline in inflation, progress in debt restructuring, and investments in human resource.
“The civil service we have has a very important role in the agenda of making the economy bigger. The private sector needs support to get licences and the like,” the minister said.
Dr Musokotwane also said the supplementary budget he recently presented in Parliament has taken into account the projected US$200 million revenue loss due to the three-month tax waiver on fuel imports, necessitated by increased oil prices as a result of the United States/Israel-Iran war.
And Secretary to the Cabinet Patrick Kangwa said yesterday’s meeting was of particular significance because it was convened at a time of global geopolitical instability and when Zambia is in the final year of transitioning from 8NDP to 9NDP.
In a speech read for him by Deputy Secretary to the Cabinet for finance and economic development Siazongo Siakalenge, Mr Kangwa expressed confidence that submissions from the meeting will enable the country to effectively respond to emerging external shocks.
Ministry of Finance and National Planning acting Permanent Secretary for economic management and finance Akapelwa Imwiko said Government’s focus now is consolidating the gains made so far, but warned of geopolitical tension risks.
Ministry of Finance and National Planning assistant director for expenditure execution Percy Musona said Government spent K60.74 billion in the first quarter of 2026, against the targeted K53.31 billion….https://enews.daily-mail.co.zm/welcome/home
