2015 budget speech zambia pdf

Zambia is a landlocked country, but thanks to its numerous rivers, lakes and underground water resources, the country concentrates 40% of southern and central africas water resources on its own. The report submitted to the government by two eminent experts on public finances, luc godbout and claude montmarquette, provided a realistic. As at 30th september, 20, the bank of zambia had withdrawn k3. It seeks to allocate resources systematically and fairly. Sir, on 1st january 20, we successfully rebased the kwacha. Speech by the financial secretary, the hon john c tsang. Weathering the storm zambias 2016 national budget pwc analysis and outlook commentary turbulent times it has been a testing 12 months for government in what may in retrospect. The 2015 budget did not address the 2014 inflation targets which according to our current trajectory zambia will not be able to meet.

And it is one that is presented in very special circumstances. The 2015 budget is better than the 2014 one because although both are developmental the 2015 has a more easier to manage fiscal deficit than the 2014. Towards an empowered society and inclusive economic growth presented to the parliament of zimbabwe on 27 november, 2014 by hon. Saada makuya salum last budget as minster for finance in the present government, there is no doubt that her budget 2015 speech was prepared and presented with the much anticipated constitutional referendum as well as the upcoming general election in. Weathering the storm zambias 2016 national budget 9 october 2015 1. Bank of zambia and central statistics office source. On 9 october 2015, zambias minister of finance presented the budget for 2016 the budget to the parliament. Mr speaker sir, i move that leave be granted to present a statement of the estimated revenues and expenditures of the republic of zimbabwe for the. Sir, as at endseptember 2015, zambias gross international reserves stood at. Budget speech 4 20142015 x we will restore sound public finances, for the current situation is unacceptable. Details of the budget, which unless noted will apply from 1. In fact, there are sections of the society who would wish me to do so, so angry.

This means that average inflation for 2010 will be bewteen 8 and 12. Edgar chagwa lungu, president of the republic of zambia for. The ministry of finance is charged with the responsibility of economic management to foster sustainable national development. This, mr speaker, is the 8th budget in the current cycle of udp governance. The 2019 budget will seek to gradually condense the fiscal deficit, maintain a sustainable debt position and safeguard the vulnerable in society. The ministry is headed by a minister whose mandate is drawn from the minister of finance incorporation act, chapter 349 of the laws of zambia. Republic of zambia recommending favourable consideration of the motion that i now lay on the table, in accordance with the requirements of article 117 of the constitution, as amended. Sir, to further improve the quality of health care and reduce referrals. Felix mutati presented the 2018 national budget to parliament. Alexander chikwanda mp, minister of finance and national planning delivered to the national assembly on 9th october 2016. The 2015 budget introduced major changes to the mining fiscal regime. Speaker, sir, i beg to move that the house do now resolve into committee of supply on the estimates of revenue and expenditure for the year 1st january.

Box 50062 chimanga road, lusaka all correspondence should be addressed to the secretary to the treasury. In the 2014 budget zambia estimated and inflation rate of 6. Minister of finance and national planning delivered to the national assembly on friday, 1st march 2002 opening remarks 1. The budget process plays a role in clarifying these options, probing their costs and assessing implementation modalities. Further, the budget is only marginally lower than inflation. Please note that due to the age of these documents they may not meet current web publishing requirements and may not be compatible with some software.

It comes, after all, barely a week after the resounding udp victory in the countrywide municipal elections. I could easily have resorted to political bacchanal, picong and rhetoric, and the statement could have taken the form of a fiery campaign speech on a political platform. The preparation of the 20182019 bsp is formulated under very challenging global, regional and local environments. These include the fall in copper prices, the depreciation of the. Historical budget documents are available for reference purposes. Speaker, it is my honour to present to this august house the fy 201819 budget statement. The zambian agriculture sector comprises crops, livestock and fisheries. Click here to download the complete set of the 201415 budget for offline reading.

As i begin this budget speech, i wish to pay tribute to the late john mupanga mwanakatwe, sc, a distinguished lawyer and former minister of finance. I make this statement in fulfillment of the requirements of section 40 of the public finance management act, 2012 and the standing order number 241 of the national assembly. Assembly budget proposals for the financial year 20142015. The decline in inflation was mainly attributed to nonfood inflation, which fell to. Republic of botswana 2015 budget speech by honourable o.

The availability of budget documents contains a series of four tables that allow the researcher to examine and map the public availability and dissemination of its countrys key budget documents i. The bsp also adds to the national budget documentation such as the budget speech, which is produced as part of the public disclosure to improve fiscal transparency. It is my privilege to present the 2015 medium term budget policy statement, together with the adjustments. The cash exchange exercise will continue until 31st december 2015 to enable all zambians. I am also tabling the budget plan and the accompanying documents. Pmrc collaborates directly with government, media, private sector, academia, civil society organizations and general citizenry in its work. I rise to move the second reading of the general revenue appropriation bill for fiscal year 20152016. Michael sata, last october, shortly after the 2015 budget was announced. Zambia budget 2016 beat the odds 7 it is not clear from data provided in the 2016 budget speech whether government will reduce growth in consumption expenditure, particularly whether it intends to limit growth in the public sector wage bill salaries and wages, as advised by rating agencies and the imf. Matambo minister of finance and development planning delivered to the national assembly on 2nd february 2015 website. Accordingly, the zambian government has proposed a number. President of the republic of zambia, recommending favourable consideration of the motion that i now lay on the table. Unicef calculations from 2015 and 2016 national budget speeches.

The strategy for the years 20152019 was formulated by the ministry of agriculture moa using a participatory approach in strategic planning under the framework of the eu funded agriculture and rural development. Budget deficits have continued as a result of tight liquidity conditions in the domestic market together with unfavourable global environment. Speaker, as this is my first budget address to this august house, it is befitting that i begin by thanking his excellency, dr. Curtailing spending as part of these austerity measures, hon. Budget 20142015 is the budget of a government in action. The 2016 national budget statement building a conducive environment that attracts foreign direct investment presented to the parliament of zimbabwe on 26 november, 2015 by hon. Budget support was especially effective in sectors and situations where there was. This is an analysis of the 2015 zambian budget including breakdown of allocations to sectors including health, agriculture, infrastructure development and many more. It moved away from a system comprising a uniform royalty rate 6 percent, corporate income tax and a variable income tax. Zambias risk of debt distress from high to moderate in the medium term. Related with 2015 budget speech pdf zambia revenue authority.

Budget insight 2015 3 introduction in what might be hon. A reduction in the main budget expenditure ceiling of about r25 billion over the next two years, compared with the 2014 budget baseline. In his speech, the minister of finance acknowledges that zambia has various developmental challenges to overcome as it enters its sixth decade. The 2018 budget theme is accelerating fiscal fitness for sustained inclusive growth, without leaving anyone behind. Mwanakatwe said in her budget speech the patriotic fronts eighth budget since it came to power in 2011 that going forward government will amongst other things, focus. Since 2015, zambia has increased the availability of budget information by. On 29 september 2017, zambias minister of finance, hon. The speech indicates that the endyear target is 8 percent in 2010, and 12 percent in 2009. In addition to the sudden death of the former president, his excellency. Chinamasa, mp minister of finance and economic development. The minister of finance, honourable margaret mwanakatwe, in her maiden national budget presentation informed the nation that the 2019 budget was framed on building on the firm. Speaker, zambias domestic debt including arrears as at endseptember 2014 stood at k21. The obs 2017 examined the executives budget proposal for fy 2017.