Zambia Institute of Chartered Accountants (ZICA) President, Yande Mwenya, has underscored the importance of sustained fiscal discipline, transparency, and public investment to achieve Zambia’s 2025 budget deficit target of 3.1% of GDP, down from 6.4% in 2024.
Speaking during ZICA’s 2025 First Quarter media briefing in Lusaka today, Ms. Mwenya said the institute welcomes the progress made following the successful conclusion of Zambia’s debt restructuring programme.
However, she cautioned that despite a slight decrease in Zambia’s annual inflation rate to 16.5%, the first decline in two years, rising food prices and the ongoing energy crisis continue to threaten economic stability.
“These challenges demand a coordinated response that blends fiscal discipline, climate adaptation, support to smallholder agriculture, and the maintenance of strategic food reserves,” said Ms. Mwenya.
She also emphasized the need for increased investment in renewable energy and commended the Energy Regulation Board (ERB) for accelerating approvals of solar energy projects.
Ms. Mwenya also called for export diversification and domestic industrial growth to help stabilize the kwacha, which has depreciated by nearly 29% year-on-year and restore investor confidence.
By Margaret Mwanza
