Zambia Ends Supplementary Budgets via Stricter Fiscal Controls

LUSAKA — Finance Minister Situmbeko Musokotwane announced that enhanced fiscal discipline has positioned Zambia to avoid future supplementary budgets, following the launch of key financial oversight reports. The government on Tuesday unveiled the Public Expenditure and Financial Accountability (PEFA) Report alongside the Integrated Public Financial Management Reform Strategy (IPFM-RS). Musokotwane stated that the improved outturn in public expenditure, driven by stricter budget monitoring and revenue performance, means the treasury will no longer require mid-year budget adjustments. He attributed this shift to consistent implementation of financial reforms and better revenue collection, which have stabilized the fiscal outlook. The PEFA assessment, a diagnostic tool for public financial management, supports this trajectory by highlighting progress in budget execution and control systems. The newly launched IPFM-RS aims to institutionalize these gains through structural reforms in financial management across all government sectors.