The Eighth National Development Plan (8NDP) sets out Zambia’s strategic development priorities and implementation framework for the period 2022–2026. It is aligned with the country’s long-term Vision 2030 and reflects both prevailing challenges and emerging opportunities, including the economic impacts of the COVID-19 pandemic. The Plan is structured around four strategic development areas: Economic Transformation and Job Creation; Human and Social Development; Environmental Sustainability; and Good Governance. Among these, Economic Transformation and Job Creation is the central pillar, focusing on promoting private sector–led growth, expanding trade, and increasing investment to enhance production, value addition, and economic diversification. This transformation will be driven primarily by the agriculture, mining, tourism, and manufacturing sectors, with critical support from energy, transport, and water infrastructure development. Additional emphasis is placed on strengthening information and communication technology (ICT) and science and technology to advance digital transformation and innovation. Skills development is also prioritized to ensure the availability of a capable workforce aligned with economic needs, thereby supporting the creation of decent employment opportunities, particularly for youth. The remaining strategic areas complement this core agenda. Human and Social Development focuses on building a skilled and healthy population while addressing poverty, inequality, and regional disparities. Environmental Sustainability promotes the integration of climate-responsive approaches, including adaptation and mitigation measures, as well as the development of climate-resilient infrastructure across sectors. Good Governance underpins all interventions by strengthening institutional effectiveness and accountability. The macroeconomic objectives for the 8NDP by 2026 are to (i) achieve an annual real GDP growth rate of at least 4.5%; (ii) reduce the fiscal deficit to 3.6% of GDP; (iii) maintain an annual domestic revenue to GDP ratio of at least 21%; (iv) contain domestic borrowing to less than 4.8% of GDP; (v) dismantle domestic arrears and curtail accumulation of new arrears; (vi) reduce and maintain inflation within the target range of 6-8%; (vii) maintain international reserves of at least 3 months of import cover; (viii) reduce the external debt to 60% of GDP and ensure sustainability. The Government will implement key reforms to achieve macroeconomic objectives, including strengthening public finance management to improve fiscal discipline, transparency, and resource mobilisation. A fiscal risk management framework will be established to better monitor and manage economic uncertainties and debt pressures. Reforms will also target public-private partnerships, agriculture support (FISP), and the energy sector to enhance efficiency and productivity. Additionally, improving the performance of state-owned enterprises and advancing fiscal decentralisation will support sustainable growth and better service delivery. Progress has been made under previous Development Plans, but it has not been sufficient to achieve Vision 2030, requiring accelerated reforms and interventions under the 8NDP. The Plan focuses on 4 key strategic development areas (1) Economic Transformation and Job Creation is the central pillar, driven by industrialization, value addition in agriculture, mining, and manufacturing, and support to MSMEs and tourism to create jobs and strengthen economic resilience.; (2) Human and Social Development aims to build a skilled, healthy population by improving access to quality education, healthcare, water, sanitation, and social protection, thereby reducing poverty and inequality; (3) Environmental Sustainability emphasizes sustainable use of natural resources, climate change adaptation and mitigation, and disaster risk reduction to ensure long-term, green development; (4) Good Governance Environment focuses on strengthening institutions, rule of law, transparency, and accountability to create an enabling environment for inclusive and effective development.
Zambie · 2022-01-01