Lusaka, Zambia – On Tuesday, December 17, 2024, Parliament made a significant stride by adopting the Report of the Planning and Budgeting Committee on the 2024 Annual Borrowing Plan Second Amendment. This pivotal decision was taken during the Fourth Session of the Thirteenth National Assembly.
Laid on the Table of the House on Monday, December 16, 2024, the report outlines crucial amendments aimed at refining the country’s borrowing strategies to better align with its economic goals and sustainable development plans.
The discussions in the House were marked by intense deliberations, where Members of Parliament underscored the importance of maintaining a balance between necessary borrowing and fiscal responsibility. The adopted amendments are expected to enhance transparency and accountability in the management of borrowed funds, ensuring they are effectively used to foster national growth.
Key highlights of the Second Amendment include stringent measures for the monitoring and evaluation of borrowing practices, aiming to safeguard the nation against fiscal instability. The Planning and Budgeting Committee’s recommendations emphasize the need for prudent financial management to navigate the complex economic landscape.
This adoption reflects the government’s commitment to responsible fiscal policies and its proactive stance in addressing the nation’s financial needs. As Zambia continues to forge ahead with its developmental agenda, the successful adoption of this report stands as a testament to the nation’s dedication to economic stability and progress.
