2022 Zambia Budget
The road to recovery: Building economic resilience
Restructuring Zambia’s debt and creating jobs through private sector growth are at the forefront of the New Dawn Government’s ambitious plans to revive Zambia’s ailing economy.
A daunting budget for Zambia’s new dawn government
Restructuring Zambia’s debt and creating jobs through private sector growth are at the forefront of the New Dawn Government’s ambitious plans to revive Zambia’s ailing economy.
In the United Party for National Development’s (UPND) maiden budget, titled Growth, Jobs and Taking Development Closer to the People, Finance and National Planning Minister, Honourable Dr Situmbeko Musokotwane, MP, said Government hoped to have agreed an IMF programme by the end of November, paving the way to renegotiating Zambia’s debt. The Hon. Minister said that Government expected to finalise negotiations with creditors by the end of the first quarter of 2022.
Zambia’s external debt ballooned under the former Patriotic Front (PF) Government, growing from around US$2 billion in 2011 to US$14.7 billion at the end of September, a situation the Hon. Minister said had contributed significantly to high poverty levels across the country. This debt includes a US$750 million Eurobond that is due for repayment next year. Government also owed K46.9 billion in domestic arrears as at the end of June.
2022 Budget commentary videos
PwC Zambia 2022 National Budget Commentary - Part 1
PwC's Andrew Chibuye, Country Senior Partner shares his commentary on the 2022 Zambia National Budget, part 1
