ONE of the most significant developments regarding the Government's role of economic management has been the implementation of a budget cycle that will run from January to December of every year.

This new process has come after various representations from both individuals and groups who were convinced it would work better than the previous cycle, that saw budget presentation in February and funding arrangements kicking off around April each year.

The weaknesses of the previous set up, in terms of effective execution of Government projects, have been well documented. Now that the new system has come, there is eargerness among stakeholders to see how well it will be managed.

There is a lot riding on its implementation, if for nothing else, just for the fact that Government expenditure is the single most significant factor in spurring aggregate demand in a small economy like Zambia's.

It is for this reason that there will added attention on the disbursement of funds by the Ministry of Finance to the various sectors allocated funds in this year's budget. For regardless of the wisdom of effecting the new budget cycle, all the good work of its introduction will be undone by failure to release funds on time.

And should this happen, the failure to harvest benefits of effecting the new budget cycle will almost be guaranteed.

This would be an unfortunate development, considering the already spending work accomplished in the area of steering the Zambian economy through the troubled waters stirred by the global economic recession.

There are lessons to be learnt in the way the Government of President Rupiah Banda moved to give the mining houses the hand they needed to adjust to the circumstances, principally by removing the windfall taxes, and by conducting an aggressive campaign to bring new investors to, especially Luanshya Mine.

The operations of this mine are a means of sustenance for virtually the whole of Luanshya town. President Banda and his Government worked until Chinese investors were found. Their revival of Luanshya Mine is now like a symbol of the resuscitation of the entire mining sector.

The revival of the mining sector, together with other proactive measures taken, especially in the financial sector, have helped Zambia escape some of the most serious effects of the global economic recession.

It is in the light of the foregoing that we are urging the Government to ensure that it uses this year's budget to build on the gains made during this difficult time. This will be one way for President Banda to continue to show his steady handin steering the economy towards growth.