PMRC Zambia

PMRC 2026 NATIONAL BUDGET ANALYSIS

INTRODUCTION
The Minister of Finance and National Planning unveiled a K253.1 billion national budget for the 2026 fiscal year under the theme “Consolidating Economic and Social Gains Towards a Prosperous, Resilient and Equitable Zambia.” Representing 27.4 percent of Gross Domestic Product (GDP), the 2026 National Budget, presented is the fifth budget under the 8NDP implementation period. The budget outlines the Government’s strategic plan to build on past achievements, strengthen socio-economic resilience, and promote inclusive development. The budget reflects the Government’s commitment to sustaining economic growth, enhancing social protection, and addressing structural inequalities to ensure that the benefits of development are widely shared across all segments of society. Against the backdrop of debt restructuring, the transition of the IMF programme, and heightened climate and social challenges, the 2026 budget seeks to balance three objectives: maintaining macroeconomic stability, safeguarding progress in social sectors, and investing in resilience and economic diversification, while introducing measures to enhance revenue mobilisation, improve public financial management, and support targeted interventions for vulnerable populations.

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2026 Zambia National Budget Expenditure Comparisons by years 2022 - 2026

2026 Zambia National Budget Infographic

To download the Full Infographic: https://pmrczambia.com/2026-zambia-national-budget-infographic/

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PMRC Briefing Document - Harnessing Cash for Work for Sustainable Community Development in Zambia

INTRODUCTION
On 29 February 2024, Zambia declared a national emergency as a result of a prolonged drought. As at 1st March 2024, the drought was affecting 84 of the 116 districts across Zambia’s Central, Copperbelt, Eastern, Lusaka, Northwestern, Southern, and Western provinces. The drought, which had destroyed over one million hectares of maize as at 5th March 2024, had significantly reduced crop yields, particularly of maize, the country’s staple food. This has resulted in increased food prices across all Zambian provinces and decreased the availability of affordable food items, worsening food insecurity for millions of people across the country (Acaps, 2024).

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PMRC Article - Harnessing Zambia’s Demographic Dividend- Unlocking the Power of a Young Population for Sustainable Development

By Leya Namonje Tembo, Head of Monitoring and Evaluation - PMRC

Zambia boasts a youthful and rapidly growing population, with about two-thirds of its population under the age of 25 and a median age of about 17 years. This entails that half of the Zambian population is younger, whereas the other half is older than 17 years. This demographic trend presents both a significant challenge and an incredible opportunity. If effectively harnessed, Zambia’s youthful population can serve as a catalyst for economic growth and development, a phenomenon known as the demographic dividend.

Demographic dividend, as defined by the United Nations Population Fund (UNFPA), is the economic growth potential that can result from shifts in a population’s age structure, mainly when the share of the working-age population (15 to 64) is larger than the non-working-age share of the population (14 and younger, and 65 and older). In other words, it is a rise in economic productivity that occurs when there are growing numbers of people in the workforce relative to the number of dependents. This change can accelerate economic growth through increased productivity of the relatively big labour force if the economy generates adequate decent jobs for them.

It is important to understand that the demographic dividend is neither automatic nor guaranteed; therefore, countries must earn it by implementing policies and strategies that accelerate fertility decline as well as ensure that the larger labour force is well educated, skilled, healthy, and economically engaged. For Zambia, this window of opportunity is both urgent and promising as the country’s population is projected to double by 2050, with the working-age group expanding significantly.

To capitalise on this, the Government in the 2019 National Population Policy highlights the need to harness the country’s demographic dividends as one of the measures that will be implemented to achieve the objectives of the Policy. The measures highlighted in the policy are timely as they aim to turn the country’s youthful population into a catalyst for economic growth, focusing on human development. A well educated and skillful workforce is fundamental to harnessing a country’s demographic dividends. Zambia has made significant strides in expanding access to primary education; however, challenges such as hidden costs, long distances, gender disparities, and poor quality stemming from overcrowded classrooms and insufficient infrastructure still impede optimal outcomes. To address these issues, the Government has introduced and is implementing various reforms and initiatives, including curriculum updates that emphasise Science, Technology, Engineering, and Mathematics(STEM) and vocational skills, enhancements in teacher support, and investments in school infrastructure to improve quality and inclusivity.

The education sector has also benefited from support by the World Bank through projects like the Zambia Education Enhancement Project (ZEEP), which is constructing secondary schools in rural areas, and the Zambia Enhancing Early Learning Project (ZEEL), focused on early childhood education. Expanding school infrastructure, providing access to clean water and sanitation, and other measures can strengthen the education system, equipping Zambia’s youth with the relevant skills necessary for harnessing the country’s demographic dividend, thereby driving economic growth, reducing poverty, and positioning Zambia for sustainable development.

A healthy population is also essential for productivity. In this regard, Zambia has made progress in reducing child mortality and improving maternal health, but challenges persist, notably in combating HIV/AIDS, malaria, and other communicable diseases. Addressing health issues improves life expectancy and reduces the burden of disease, enabling young people to reach their full potential. Additionally, promoting reproductive health and family planning allows for a decline in fertility rates, ensuring that population growth aligns with economic capacity and service provision. Investing in healthcare infrastructure, the recruitment of health workers, and ensuring access to quality health services are critical components of a demographic dividend strategy.

One of the biggest hurdles Zambia faces is youth unemployment. An expanding young population demands job creation in diverse sectors. Dependence on traditional sectors like mining and agriculture is insufficient; the country must diversify its economy to include manufacturing, services, tourism, and technology. Supporting entrepreneurship, such as access to finance, mentorship, and business development services, can empower young entrepreneurs to innovate and create jobs. Encouraging small and medium enterprises (SMEs) can also stimulate economic activity and reduce unemployment.

In conclusion, Zambia’s youthful and rapidly growing population presents a unique opportunity to accelerate economic development through the strategic harnessing of its demographic dividend. Realising this potential requires effective implementation of policies that focus on improving education, healthcare, and economic diversification. By investing in human capital, ensuring access to quality education, health services, and reproductive health, alongside fostering job creation and economic innovation, Zambia can transform its demographic advantage into sustainable growth.

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https://pmrczambia.com/wp-content-uploads-2025-06-pmrc-article-harnessing-zambias-demographic-dividend-unlocking-the-power-of-a-young-population-for-sustainable-development-pdf/

The PMRC team, led by Head of Monitoring and Evaluation – Leya Tembo, appeared before the Parliamentary Committee on Health, Community Development and Social Services and provided a detailed memorandum of the Non-Governmental Bill, NAB No. 6 of 2025.

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https://pmrczambia.com/wp-content-uploads-2025-06-committee-on-health-community-development-and-social-services-consideration-of-the-non-governmental-bill-nab-no-6-of-2025-pdf/

The PMRC team, led by Head of Monitoring and Evaluation – Leya Tembo, appeared before the Parliamentary Committee on Agriculture, Lands and Natural Resources. Senior Researcher-Alice Phiri submitted a memorandum providing commentary on the Agreement on Fisheries Subsidies under the World Trade Organisation (WTO), with particular emphasis on whether Zambia should ratify the Agreement.

PMRC provided the following recommendations for consideration:
• The Agreement does not impose any new restrictions on Zambia’s existing inland or aquaculture subsidies;
• It supports sustainable global fisheries, in alignment with Zambia’s environmental and policy commitments;
• It provides developing and least-developed countries with transition periods, flexibility, and access to technical support; and
• It enables Zambia to strengthen its position in global trade and development negotiations, without incurring disproportionate obligations.
Ratification would signal Zambia’s continued commitment to sustainability, regional cooperation, and effective global trade governance, while potentially unlocking technical and financial support to bolster domestic fisheries systems.

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https://pmrczambia.com/https-pmrczambia-com-wp-content-uploads-2025-06-committee-on-agriculture-lands-and-natral-resources-ratification-of-the-agreement-on-fisheries-subsidies-under-the-world-trade-organisation-pdf/

PMRC Executive Director Dr Sydney Mwamba paid a courtesy call on the Turkish Ambassador to Zambia His Excellency Huseyin Barbaros Dicle and conferred on various developmental and research aspects critical to economic transformation.

He was accompanied by Melody Simukali-Head of Communications and Grants, and Leya Tembo- Head of Monitoring and Evaluation. Suat Gulsoy, a Commercial Counsellor from the Turkish Embassy, also attended the meeting.