For anyone interested in Zambia’s budget, the below link provides a useful overview, written by Greg Smith, Senior Economist, World Bank.
Broadly speaking, we agree with the points made. We would stress the uphill battle for the Zambia government to rebuild confidence after the policy flip-flopping, especially on mining and taxation in recent years. Also worth noting the low growth rates – just above population growth rates. This will make it harder for government – as the population will feel squeezed.