On Friday, 26 September 2025, the Honorable Minister of Finance and National Planning, Dr Situmbeko Musokotwane, presented the 2026 National Budget to Parliament. It is the fifth budget under the UPND administration and the first since Zambia endured the worst effects of the climate change-induced energy and food crisis. It is titled “Consolidating Economic and Social Gains Towards a Prosperous, Resilient and Equitable Zambia’’.
A stronger harvest in 2025 has eased food pressures, but the country continues to grapple with a severe power deficit.
The 2026 budget signals Zambia’s return to stability and resilience after a period of crisis-driven spending. The focus has shifted from emergency measures to consolidating reforms, restoring fiscal credibility, and ensuring that economic growth benefits all Zambians.
Totaling K253 billion, the 2026 budget reflects a 17% increase over the original K217 billion planned for 2025 and a 6% rise above the supplementary-adjusted figure of K238.6 billion. A supplementary budget of K33.6 billion (net K22.6 billion after savings) was required to accommodate several additional expenditures including the following:
| Expenditure | Amount (K billions) |
| Outstanding fuel arrears | 11 |
| Debt obligations (Domestic interest and addition external debt interest arrears) | 8 |
| Agricultural sector commitments (including FISP) | 6 |
| Social Protection (Including Social Cash Transfer Extension) | 1.9 |
| Educational Infrastructure | 1.3 |
Less dramatic in tone than previous budgets, the 2026 budget’s significance lies in its focus on continuity and consolidation. Major reforms from 2022 and 2023 are being embedded, with measures like the Minimum Alternative Tax introduced through the 2025 supplementary process. Rather than unveiling sweeping new initiatives, this budget reinforces existing policies.
Notably, there is a clear push to promote and protect domestic manufacturing. Key measures include higher import duties on processed meat products, powdered milk, cheese, yoghurt, flexible PVC hoses, and polyester fibre. At the same time, the removal of import duties on milk pasteurisation machinery and vehicle assembly components aims to support local industry and value addition.
