Finance and National Planning Minister Situmbeko Musokotwane has tabled a K284.8 billion national budget for 2027 in Parliament, primarily funded by domestic revenues totaling K233.7 billion—over 82% of the overall budget. Delivered in Lusaka yesterday, Dr Musokotwane highlighted that the proposed budget corresponds to 28.4% of the projected Gross Domestic Product (GDP) for 2027, with domestic financing accounting for 82.1% of the total.
Finance and National Planning Minister Situmbeko Musokotwane has submitted a K284.8 billion 2027 national budget to Parliament, with the majority of funding coming from domestic sources amounting to K233.7 billion—exceeding 82% of the total budget.
Delivering the budget in Lusaka yesterday, Dr Musokotwane noted that the 2027 fiscal plan represents 28.4% of the expected Gross Domestic Product (GDP), with K233.7 billion in domestic financing making up 82.1% of the total budget.
Dr Musokotwane, whose budget theme is “Grow Zambia: from stabilisation to unlocking opportunities, creating jobs and improving livelihoods for all”, stated that borrowing from both local and international sources would contribute K41.9 billion—14.7% of the budget—while grants from development partners amounted to K9.2 billion, or 3.2% of the total.
He emphasized that one of the United Party for National Development (UPND)’s core priorities since assuming office has been enhancing fiscal sustainability via stronger domestic revenue generation and more efficient public spending.
“Since taking office, we have steadily raised the share of domestic revenues in the budget—from 58.7% in 2021 to 76% in 2024—and we anticipate reaching 82.1% by 2027,” Dr Musokotwane remarked.
The minister proposed allocating K90.5 billion—31.8% of the budget—to general public services, while K67.6 billion was set aside for debt servicing, including K50.8 billion for domestic debt and K16.8 billion for external obligations.
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