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Budget address by the Hon. Ng'Andu P. Magande, MP

Minister of Finance and National Planning delivered to the National Assembly

9 February 2007

SARPN acknowledges Mr. Jack Jones Zulu as source of this document.
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  1. Mr. Speaker, I beg to move that the House do now resolve into Committee of Supply on the Estimates of Revenue and Expenditure for the year 1st January 2007 to 31st December 2007, presented to the National Assembly in February 2007.

  2. Sir, I am the bearer of a message from His Excellency the President recommending favourable consideration of the motion I now lay on the Table.

  3. Mr. Speaker, on 28th September last year, the Presidential, Parliamentary and Local Government elections were held throughout the country in a calm and peaceful atmosphere. The re-election of the MMD into Government reflects not only the endorsement of the policies of the New Deal Administration, but also a vote of confidence in the leadership of His Excellency the President, Levy Patrick Mwanawasa, SC.

  4. Given this fresh mandate, the New Deal Government will continue to work tirelessly to improve the lives of our people and therefore, has the resolve to pursue its economic agenda with renewed vigour to steer our country to greater heights.

  5. Mr. Speaker, Honourable Members, the Budget Address enables the Government to review economic performance, identify challenges facing the nation and outline policies for meeting these challenges. Some of the major challenges include the consolidation of the macroeconomic stability and sustained growth in the economy. I wish to report, Sir, that we have laid a strong foundation to meet the above challenges.

  6. Sir, having achieved relative macroeconomic stability and positive economic growth, it is paramount that these achievements are translated into improved standard of living for our people. To achieve this, there is need for improved service delivery, hence the theme for this year's Budget "From Stability to Improved Service Delivery".

  7. Mr. Speaker, this budget has been drawn from the Fifth National Development Plan (FNDP) and has benefited greatly from the consultative process with the general public, business community, trade unions, civic and religious organisations, professional associations and our cooperating partners. This underlines the Government's will to consult on issues of national importance. May I, therefore, take this opportunity to thank individuals, various organisations and government officials that have contributed to the formulation of this budget.

  8. Sir, I start my Address, in Part One, by briefly reviewing the performance of the global economy during the past year. The performance of the domestic economy during the same period is reviewed in Part Two. This is followed, in Part Three, by an outline of Government's economic and social policies for 2007. In Part Four, I present details of expenditure and the supporting revenue for the 2007 budget, respectively. Finally, in Part Five, I give my concluding remarks.

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