[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109343-en":3,"doc-seo-109343-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109343,4810365810221,"Aurora","https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d",8,"Research & Report","Zambia Public Finance Review - Strengthening Fiscal Governance for Transformative Public Sector Investments - September 2024","Zambia Public Finance Review examines fiscal governance challenges and opportunities shaping transformative public sector investments. It presents an assessment of public finance developments, revenue and expenditure dynamics, and their implications for fiscal sustainability. The review then analyzes public investment management systems across central and local levels and evaluates institutional constraints and performance. Finally, it assesses state-owned enterprises’ fiscal costs and risks and outlines governance and accountability reforms, supported by actionable policy recommendations and annexed technical inputs.","Pub lic Disclosure Authorized Pub lic Disc losure Authorized Pub lic Disclosure Authorized  \nZAMBIA  \nPublic Finance Review  \nSTRENGTHENING FISCAL GOVERNANCE FOR  \nTRANSFORMATIVE PUBLIC SECTOR INVESTMENTS  \nSEPTEMBER 2024  \nPub lic Disc losure Authorized  \nZambia Public Finance Review  \nStrengthening fiscal governance for transformative public sector investments  \nSeptember 2024  \nMacroeconomics, Trade, and Investment Global Practice East and Southern Africa Region The World Bank Group  \nACKNOWLEDGEMENTS  \nThis report was prepared by a team led by Albert Pijuan (Senior Economist), Donna Andrews (Lead Governance Specialist), and Joseph Simumba (Economist) . The team included Lobna Mohamed Abdellatif Ahmed (Senior Governance Specialist), May Thet Zin (Economist), Rachel Kaggwa Sebudde (Senior Economist), Cedric Deguenonvo (Economist), Francis Zulu (Consultant), Shebo Nalishebo (Consultant), Zali Chikuba (Senior Research Fellow–Zambia Institute for Policy Analysis and Research, ZIPAR), and Mbewe Kalikeka (Research Fellow–ZIPAR) . The Public Investment Management and State-Owned Enterprise analyses draw heavily on the research collaboration between the World Bank and ZIPAR. Nathan Belete (Country Director), Hassan Zaman (Regional Director), Achim Folk (Country Manager), Abha Prasad (Practice Manager), Aghassi Mkrtchyan (Program Leader) . Fiona Hinchcliffe provided editorial support and Katarina Zeravica designed the report. Phillip Schuler (Lead Economist) provided the overall guidance. The peer reviewers included Paolo Di Lorenzo (Senior Economist), Ana Cristina Hirata Barros (Senior Governance Specialist), and Roland Lomme (Senior Governance Specialist) . The team thanks the Government of the Republic of Zambia for its support during the preparation and launch of this report.  \nRegional Vice President: Victoria Kwakwa  \nCountry Director: Nathan M. Belete  \nRegional Director: Hassan Zaman  \nPractice Manager: Abha Prasad  \nTask Team Leaders: Albert Pijuan Sala, Donna Andrews, and Joseph Simumba  \nTABLE OF CONTENTS  \nACKNOWLEDGEMENTS 􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮 iv ACRONYMS 􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮 2  \nEXECUTIVE SUMMARY 􀀮 􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮 4  \nRecommendations............................................................................................................................ 9  \nCHAPTER 1 PUBLIC FINANCE DEVELOPMENTS, CHALLENGES, AND OPPORTUNITIES 􀀮􀀮􀀮􀀮􀀮􀀮􀀮 12  \n1.1 Introduction.............................................................................................................................. 13  \n1.2 Revenue .................................................................................................................................... 17  \n1.3 Expenditure .............................................................................................................................. 30  \n1.4 Recommendations and Fiscal Sustainability Implications ........................................................42  \nCHAPTER 2 PUBLIC INVESTMENT MANAGEMENT 􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮􀀮 48  \n2.1 Introduction.............................................................................................................................. 51  \n2.2 Profile of Public Investments .................................................................................................... 52  \n2.3 PIM Institutional Challenges at the Central Level.....................................................................58  \n2.4 Local PIM System and Performance ......................................................................................... 71  \n2.5 Policy Recommendations .............................................................","cbCaicqwIdOi2kx1","https://ap.wps.com/l/cbCaicqwIdOi2kx1","pdf",18955301,3,1,144,"English","en",105,"# Acknowledgements\n# Executive Summary\n# Recommendations\n# Chapter 1 Public Finance Developments, Challenges, and Opportunities\n## Introduction\n## Revenue\n## Expenditure\n## Recommendations and Fiscal Sustainability Implications\n# Chapter 2 Public Investment Management\n## Introduction\n## Profile of Public Investments\n## PIM Institutional Challenges at the Central Level\n## Local PIM System and Performance\n## Policy Recommendations\n# Chapter 3 State-Owned Enterprises\n## Introduction\n## SOE Landscape\n## Assessment of SOEs’ Fiscal Costs and Risks\n## Corporate Governance and Accountability\n## Policy Recommendations\n# Annexes","[{\"question\":\"What fiscal areas does the Zambia Public Finance Review cover first?\",\"answer\":\"It covers public finance developments, focusing on revenue and expenditure, and links findings to fiscal sustainability implications.\"},{\"question\":\"How does the report assess public investment management?\",\"answer\":\"It reviews public investment management profiles, identifies institutional challenges at the central level, evaluates local PIM system performance, and provides policy recommendations.\"},{\"question\":\"What does the report evaluate regarding state-owned enterprises?\",\"answer\":\"It assesses the SOE landscape, estimates fiscal costs and risks, and discusses corporate governance and accountability with policy recommendations.\"}]","Zambia Public Finance Review - 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