The Social Economic Forum (SEF)

Budget credibility is vital for maintaining stakeholder confidence, ensuring transparency, accountability, and efficient use of resources

The Social Economic Forum (SEF) is an initiative of the Friedrich-Ebert-Stiftung Lusaka and its partners namely; -The Southern African Social Protection Network (SASPEN), the Jesuit Centre for Theological Reflection (JCTR), the Civil Society for Poverty Reduction (CSPR) and the Zambia Congress Trade Unions (ZCTU). The SEF is a platform for discussing and analysing social and economic issues, policies and challenges that affecting Zambia. The forum will bring together a diverse group of stakeholders such as policymakers, politicians, civil society organizations, and Trade Unions to engage in dialogue, exchange ideas and propose solutions to pressing social and economic problems Zambia is facing today.

The first Social Economic Forum of the year 2025 was focused on a shadow review report of the 2021 to 2023national budget execution in light of debt landscape in Zambia. This report was conducted by the Jesuit Centre for Theological Reflection (JCTR) through its Social and Economic Development Programme. The participants who attended the Book launch engaged in an open dialogue on key social and economic topical issues such as social protection, employment, health, education, high cost of living for poverty and inequality reduction in Zambia.

Budget credibility is vital for maintaining stakeholder confidence, ensuring transparency, accountability, and efficient use of resources. It is a critical measure of a government’s commitment to its fiscal plans and policy commitments. When budgets are credible, they facilitate better planning and implementation of public services, leading to improved social and economic outcomes.Conversely, deviations from the budget can undermine trust and hinder development efforts. In recent years, Zambia has faced significant challenges related to public debt, which have profound implications for budget execution. Debt servicing consumes a large portion of the national budget, limiting resources available for critical sectors such as education, health, and social protection. This strain on fiscal space complicates efforts to maintain budget credibility, as competing demands for limited funds can lead to deviations from planned allocations. High debt levels often necessitate austerity measures and resource reallocation, which can undermine social welfare and economic growth. This creates a cycle where increased borrowing leads to higher debt servicing costs, further reducing funds for development spending.