Question

What emerged after the decline of incremental budgeting in Zambia during a transition period in which new concepts, approaches, and ideas were brought forward to explain the profound changes that were taking place in the practice of budgeting?

Answer 1

After the decline of incremental budgeting in Zambia, the country experienced a period of budgeting transition that included the introduction of new concepts, paralleling global patterns marked by shifts towards lower government spending and higher taxes, influenced by earlier legislative changes like the Budget and Accounting Act of 1921.

Step-by-step explanation:

After the decline of incremental budgeting in Zambia, there was a period of transition where new concepts and approaches were brought into the budgeting process. This shift mirrors larger global trends, especially in the early 2000s when many high-income countries dealt with the aftermath of financial crises by employing expansionary fiscal policies with large budget deficits. In response to these challenges, a combination of lower government spending and higher taxes was proposed to stimulate the economy and manage budget deficits more effectively. Furthermore, the historical precedent of the Budget and Accounting Act of 1921 shows the evolution of the executive branch's role in budget formulation, highlighting the importance of adapting budgetary practices over time.