Musokotwane unveils K284.8 billion Budget to grow Zambia

Finance and National Planning Minister Dr Situmbeko Musokotwane today presented the 2027 National Budget to Parliament, proposing spending of K284.8 billion next year. Of this, K233.7 billion will be financed through domestic revenues.

Dr Musokotwane, who arrived at Parliament with his wife Mate and daughter Liseli, set out measures to expand power supply, strengthen health services and support pensioners and small-scale miners under the Grow Zambia Agenda.

He told the House that more than 1,400 megawatts will be added to the national grid next year. This will bring installed capacity to about twice the level the Government found in 2021.

In health, the Government will recruit 3,125 frontline medical personnel in 2027 to ease pressure on hospitals and clinics across the country.

Pensioners are set to benefit from faster payments, with the waiting time for pensions cut from one year to three months.

The Minister also announced a 50 percent reduction in the gold mineral royalty for artisanal and small-scale mining operators who sell gold to approved aggregators, a move intended to bring more small-scale production into formal channels.

On the wider economy, Dr Musokotwane said copper production is projected to reach 930,000 tonnes in 2026, underlining the mining sector’s central role in Zambia’s growth.

The Budget marks the Government’s latest step in delivering the Grow Zambia Agenda, with measures aimed at households, workers and businesses across the country.