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Alba Iulia
Friday, July 1, 2022

Government had a balanced budget from January to June this year-Yamba

Economy Government had a balanced budget from January to June this year-Yamba

Secretary to the Treasury, Fredson Yamba
Secretary to the Treasury, Fredson Yamba

GOVERNMENT has raised K15.4 billion, out of which K11 billion was from domestic tax and non-tax revenue sources.

A total of K4.4 billion was from the issuance of treasury bills and government bonds and K697.7 million from foreign grants for both budget and project support.

Secretary to the Treasury Fredson Yamba has disclosed that K15.4 billion was released for development programmes, social services and to facilitate government operations in the ministries, provinces and spending agencies.

“Expenditure for six months (January to June) is equal to the revenues which were mobilised and this means that the budget was balanced,” Mr Yamba said.

He said a total of K1.2 billion was released for debt service payments and K673.2 million went towards payments of interest on government bonds and treasury bills while the balance of K574.2 million went towards external debt service payments.

Mr Yamba said K9 billion was released to ministries, provinces and spending agencies for operations and development programmes, among them construction and maintenance, Zesco power rehabilitation and for outstanding bills under the Farmer Input Support Programme.

He said other notable expenditure included K1 billion transfers to grant-aided institutions such as the Zambia Revenue Authority, road agencies and universities.

“It is important to stress that the Government makes resources available under the contingency budget line to cater for all unforeseen and unavoidable expenditures, including by-elections,” Mr Yamba said.

He said K90.1 million was allocated and approved by Parliament as contingency provision for 2013.

The treasury is confident that Government will implement the 2013 budget within the broad categories approved by Parliament, he said.

Mr Yamba said as per established global treasury management practices, the Ministry of Finance will make expenditure realignments and ensure that prudent actions are undertaken to achieve the objectives of the 2013 budget.

Mr Yamba said where any expenditure realignments are deemed inevitable, ministries,provinces and spending agencies will be required to work within adjusted budgetary provisions,authorised by the treasury, to ensure that key government programmes for 2013 are implemented prudently.

“The key lesson learnt from budget performance in the first six months of 2013 points to the need to enhance the implementation of development programmes to accelerate the benefits of improved public service delivery,” Mr Yamba said.

He said the treasury would continue to closely monitor and evaluate budget and economic affairs to ensure that national development programmes were on course.

“I take this opportunity to encourage all ministries, provinces and spending agencies to continue promoting best practices and ensuring sustained transparency and accountability in the use of public resources for general improvement in the well-being of the people of Zambia,” Mr Yamba said.

18 COMMENTS

    • These guys are busy playing catch-up! They firstly tell the truth then realizing how unpopular reality is making them, decide to come out yet again and overwrite the truth with some logical sounding deceit!
      Always chasing after their own tails…(lies)

    • Fredson Yamba is my man! one of the best there is around. All who know him personally will attest. Way to go mudaala, show them how it is done…

      Solola Bye!

  1. Just who is telling the truth!
    Nawakwi and Magande are saying there is a budget over-run/deficit. Shamenda dismissed their claims. Chikwanda admitted their was a deficit but it is normal. Yesterday Yamba said “The expenditure for the six months is equal to the revenues which were mobilized and so, this means that the budget was balanced and so no budget deficit,” said Mr Yamba.

  2. Another pf cadre,why contradictory statements,with the minister of finance,this shows that the truth is not being told.the fact is we had budget deficit and by the end of this year,it will be worse.donors will stop supporting us financial because of bloated cabinet and later,strong strings will be attached.
    Country my beloved country who will deliver us from this bondage.

  3. These guys are politicking too much to extent of separating politics and real issues, which just need truth and not politicking. Its unfortunate and hard to extract the truth from what these politicians are saying. God help us.

  4. There seems to be no coordination between Chikwanda and Yamba. Chikwanda admitted there was budget overrun and that civil servants would only get their new salaries in October, then we have Yamba rubbishing what his boss said, thus getting us more confused as to what we should believe.

  5. When were the subsidies removed? We shouldn’t be having a balanced income and expenditure situation here. We SHOULD have SAVINGS in reserve from the subsidies! Unless the subsidy savings have been gobbled by what I can’t see.

  6. “Expenditure for six months (January to June) is equal to the revenues which were mobilised and this means that the budget was balanced,” Mr Yamba said

    Maybe, but the story doesn’t end with double entry bookkeeping! How much new borrowing did GRZ take on, how much of this borrowing was planned, and is the debt sustainable?

  7. This is a lie,the current account(receivables and payables) cannot balance on whatever method you use,there must be a balance either a surplus or deficit.PF government is broke or over traded.

  8. Yamba , you are a liar who is engaged in damaged control after Chikwanda told the truth.You’re a useless and untrustworthy government full of double speak. Seeing that both you and Chikwanda are relatives of the President, I would advise you to strategize and consult on which half truth you are going to dish to Zambians!

  9. Yamba is now confusing us. Who should we believe, his boss or himself? This is taking people for a ride. Why should Yamba cook up figures as a way of damage control? Mr Yamba, this is not a game or your grandfather’s kantemba where you can say whatever you want. You are running government and we need seriousness and not cosmetic figures meant to save face. We demand truthfullness – Are we broke or not? Must we believe you or your Minister? Please tell us.

  10. theorist and the rest of u who seem 2beliv anythg anti govt info u hear, pls take it easy or u risk suffrg frm heart attak wen u lose terribly 2PF in 2016. I cn assur u, there wl b no oppo 2the party u r demonisg in 2016. watch the spac the Man Of Action is @ work. if u cared 2listn 2the editd vesion of tht media breakfast speech by the Min, u shd v apprectd tht the Min ws categorcl abt Sept except tht in the proces he mentnd he mentnd oct thru the slip of the tonque. only minds tht ar forevr lookg 4 a way of demonisg the govt cud draw the conclusn theorist & othrs v don

  11. Awe we are tired of such noise, just provide proof so that the results can show for themself, everday budget over shoot…… budget over run……, why are you trying so hard to prove something, results will tell it can happen that you overshoot nothing wrong with that, but at the end of the day if you can redeem the situation with positive results which what matters most, no one will point a gun at you, so stop screaming in the media and get down to work, we want to see results you already have borrowed , so provide baskets to tap from for payments, not squeezing other pokets, tax payers money or tempering with the reserves, Losers do that are you losers? time will tell.

  12. This government thinks we ‘re so stupid,they think they can tell us anything any other day and we’re expected to beleive.I don’t know why they can’t distinguish politics from real issues.Its not about how popular you’re but telling concise truth.We know that they are scared of there images,thats why they cant tell us even half truth.Shame to these bunch of liars,hateful,irresponsible and uncaring leadres we have.

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