The Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, unveiled
the K177.89 billion 2024 National Budget on 29th September, 2023 under the theme
“Unlocking Economic Potential.” The delivery of the 2024 budget took place in a
context marked by concerns and elevated anticipations, stemming from the Country’s
successful restructuring of a $6.3 billion debt with its official creditors in June 2023.
Additionally, this budget holds significance as it is the second one following the
attainment of an IMF Extended Credit Facility, which was officially announced in
September 2022.
The 2024 National Budget seeks to promote economic growth through enhanced
private sector investment, increased production and productivity, and improved public
service delivery. Government is therefore committed to providing policy framework,
resources and incentives to unlock the country’s economic potential. Therefore, this
analysis seeks to assess the recommendations made in the budget against critical
economic and social sectors and their responsiveness towards the aspirations of the
Eighth National Development Plan (8NDP) as well as in meeting global development
statutes to which Zambia is a member.
