Skip to content
Moojaz — موجز
Search
Menu
HomeRegionsMaghrebAfricaMiddle EastEuropeAsiaAmericasWorldSectionsPoliticsEconomySecurityHealthScienceTechnologyAIEnvironmentCultureSportsSearch
Zambia
File

Zambia: budget and public finance trajectory

Published

This dossier follows Zambia’s budget proposals, revenue assumptions and growth and deficit targets. It distinguishes government proposals from adopted budgets and actual fiscal outcomes.

Latest event : 1 key moments
Editorial principlesReport an error
Lusaka in 2008. Geographic file photograph; does not depict the budget presentation. Alex Mukuka / Beao, CC BY-SA 4.0; cropped version.
Lusaka in 2008. Geographic file photograph; does not depict the budget presentation. Alex Mukuka / Beao, CC BY-SA 4.0; cropped version. — Alex Mukuka / Wikimedia Commons — CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0/ — photographie de 2008, version recadrée par Beao en mars 2026

Where things stand

As of 6 November 2026, the government has presented a 284.8 billion kwacha budget proposal for 2027 and targets a deficit no higher than 3% of GDP. These remain forecasts.

Browse the full timeline

Reported information

Zambia proposes 284.8 billion kwacha budget for 2027

Zambian Finance Minister Situmbeko Musokotwane presented a 284.8 billion kwacha budget proposal for 2027 on 6 November 2026. The government seeks growth of around 5% and a budget deficit of no more than 3% of GDP, Reuters reports.

Lusaka in 2008. Geographic file photograph; does not depict the budget presentation. Alex Mukuka / Beao, CC BY-SA 4.0; cropped version.
Lusaka in 2008. Geographic file photograph; does not depict the budget presentation. Alex Mukuka / Beao, CC BY-SA 4.0; cropped version. — Alex Mukuka / Wikimedia Commons — CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0/ — photographie de 2008, version recadrée par Beao en mars 2026

Domestic revenue is projected at 233.7 billion kwacha, or 82.1% of the proposed envelope, according to Zambia24’s account of the minister’s presentation. Mining, agriculture, manufacturing and tourism are priorities.

The 2027 deficit target compares with an estimated 5.9% of GDP in 2026. Reuters reports that fuel tax reductions intended to cushion the consequences of the Iran war and maize purchases for food reserves increased financing needs.

The amounts and rates are government proposals and forecasts. They do not represent revenue already collected or a final deficit outcome for the coming financial year.

Sources 2