CABINET APPROVES 2021 BUDGET

Lusaka ~ Mon, 21 Sept 2020

By ZR Reporter

The 2021 National Budget due for presentation to the National Assembly by Minister of Finance, Bwalya Ng’andu, this Friday has been approved by Cabinet.

Chief Government spokesperson Dora Siliya has said the approval was made today during the Cabinet meeting held virtually due to the COVID-19 pandemic, which was chaired by President Edgar Lungu.

Mrs Siliya said other than approving the National Budget, Cabinet appreciates that in the interim, Government has already undertaken macroeconomic stabilization measures.

She said Cabinet, through the 2021 National Budget, is looking at the need for economic stabilisation and growing of the economy which has not been spared by the negative effects of the COVID-19 pandemic.

Further, Mrs Siliya said Cabinet also approved the Economic Recovery Programme (ERP) which is the successor programme of the Economic Stabilisation and Growth Programme (ESGP) that was implemented over a period of three years from 2017 to 2019.

“The details in terms of revenue and expenditure measures will comprehensively be highlighted by the Minister of Finance on Friday, 25th September 2020 in the National Assembly as he presents the detailed figures to the nation on the 2021 National Budget,” she said.

The ERP is a stabilization, recovery, and growth plan with a focus on restoring macroeconomic stability, attaining fiscal and debt sustainability, restoring growth, and diversifying the economy.