Governance Expert Urges Government to engage Mining Sector to Help Fund 2025 National Budget
A Governance Expert has urged government to fully involve the mining sector as partners and see how they should extend their hands to help fund the 2025 national budget.
Wesley Miyanda told Money FM News that next year’s budget gives hope to many Zambians, especially that three quarters of it will be funded from local resources.
Mr. Miyanda noted that the budget outlook, breathes new life into many key sectors of the economy.
He said all the mining projects that are currently taking place in the country will generate significant employment and trigger economic activities, which will contribute to national treasury through taxes.
“The presentation of 2025 National Budget has come at the time when Zambia is faced with numerous social and economic challenges ranging from high levels of unemployment, energy crisis, food insecurity and high cost of living.”
“Nonetheless, the budget outlook breathes new life into many key sectors of the national economy such as Mining, Agriculture, Education, Health, infrastructural face-lift and Social Protection,” Mr. Miyanda stated.
Meanwhile, Mr. Miyanda called for total accountability and transparency in the utilization of the Constituency Development Fund (CDF) which has been increased to K36.1 million in 2025 from K30.6 million in 2024.
“Knowing that CDF is a game changer and has really improved people’s livelihoods in various communities through loans, grants, skills trainings and infrastructural face-lift such as Construction of Schools, Roads, Health facilities and making of school Desks, government has increased the amount of CDF from K30.6 million to K36.1 million per Constituency. This implies that come 2025, more developmental activities will be taking shape across the country.”
“We wish to implore the Ministry of Local Government, other aligned institutions, Civic and traditional leaders and all stakeholders to ensure there is total accountability and transparency in the utilization of these public funds and no compromise on the quality of works being done by contractors,” he said.
According to Finance Minister Dr. Situmbeko Musokotwane, Government proposes to spend K217.1 billion in 2025 or 26.6 percent of GDP. Out of which, K174.2 billion or 80.2 percent of the Budget will be financed by domestic revenues while K8.2 billion or 3.8 percent will be grants from Cooperating Partners, and the balance of K34.7 billion or 16.0 percent will be financed through borrowing.
Government has further proposed to increase the CDF allocation to K5.6 billion in 2025 from K4.8 billion in 2024, which will see each constituency getting K36.1 million from K30.6 million in 2024.
