The Economic Association of Zambia (EAZ) says the expected economic growth of 6.4 percent for Zambia is achievable if the targeted funds are spent according to the budget and wasteful spending is eliminated.
EAZ President, Oswald Mungule, says the projected expenditure estimated at 27% of the country’s Gross Domestic Product (GDP), is sufficient to support the 6.4% growth rate.
Referring to the 2026 national budget, which was presented last week, and its strategic economic imperatives, Dr Mungule described the budget as transformative, saying it will significantly improve the livelihood of the Zambian people.
Dr Mungule, who was flanked by EAZ Acting Chief Executive Officer, Tendai Posiano, disclosed this at a press briefing in Lusaka today.
“The 2026 national budget sets a stage for consolidating the economic gains achieved and aims to propel Zambia towards becoming a prosperous middle-income country,” he said.
Dr Mungule joined other stakeholders who applauded the budget, stating that the Association stands ready to work closely with government, civil society, private and public institutions in the country in ensuring that the budget is implemented.
He explained that to build a prosperous, resilient and equitable Zambia, it is not the responsibility of the government alone but all stakeholders in the nation.
Dr Mungule, who firmly supported the budget, called on the government to diversify the energy mix, expand mobile money infrastructure, support and improve legislation surrounding Small and Medium Enterprises by making them cheaper and affordable.
He further advised that the country must target 10% GDP or more because of its social imperative economic aspect.
“Resources must be spent and implemented on the intended plan. Wasteful spending must be avoided at all costs,” Dr Mungule stressed.
Last week, Minister of Finance and National Planning, Dr Situmbeko Musokotwane unveiled a K253.1 Billion national budget for 2026.
Kwenyu……kwenyu……..kwenyuuuu……
We are here…….
FWD2041
This is a dream and a lie at the same time. How do gain economic growth if the money realized from the mines and the minerals that are sold outside does not come back in the country to circulate in the economy? Fake economists have accepted the GDP thing. How does that GDP translate into economic growth if the minerals leave the nation with some expected figure but the money realized from the minerals does not come into our banks to foster development? HE IS LYING to you that Zambia is developing. Where’s the money for development coming from? How come we have such high unemployment? How come people are suffering worse than 4 years ago? PLEASE BA UPND, stop this nonsense of duping the poor and the suffering masses in supporting your criminal syndicate.
The budget may look optimistic on paper, but the real test is in the lived experience of Zambians. Here’s my take:
If the UPND is genuinely satisfied with a 6.4% growth target, they should demonstrate their confidence by delivering the economy in a way that creates real jobs and improves livelihoods for the ordinary people. Growth numbers without growth in wages, jobs, and essential services only widen the gap between the rich and the rest.
The concern remains: are we equipping our workers with the tools they need? Banks, schools, healthcare, reliable utilities, and decent housing are the foundation of any growth story. Without these, even a 6.4% growth can feel hollow for those on the ground.
I’m cautiously optimistic about the budget’s direction, provided the government can demonstrate concrete reforms, reduced wasteful spending, and tangible improvements in health, education, housing, and job creation.
The proof will be in implementation, not just rhetoric.
What’s your take on how quickly we can see visible improvements in everyday life if these plans are executed?
When has Zambia managed to achieve a “targeted” growth? When have budget resources been prudently utilised and accounted for? How can a growth of 4.5% for one annual period against two decades of low and thinly spread growth result in transformative changes? Look at the World Bank Report on Zambia 2025, Oxfam UK Report 2025. Can we also explain the practical meaning of “transformative” vs “reformative” attainments? And also cast the growth project against other development imperatives that are key in sustaining meaningful growth – such as employment/unemployment, Socio-economic inclusionary systems as well as politico and institutional capabilities… Yes, we should all wish for positive gains but more importantly, growth does not operate in a vacuum and very critical -requires a set of neatly mixed essential “initial” conditions that are largely absent in our case.