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Sunday, September 20, 2020

Finance Minister asks for K7.2 billion in Supplementary Budget

Headlines Finance Minister asks for K7.2 billion in Supplementary Budget

Finance Minister Margaret Mwanakatwe
Finance Minister Margaret Mwanakatwe

Finance Minister Margaret Mwanakatwe has proposed reallocating 7.2 billion Kwacha in a supplementary budget delivered to Parliament on Tuesday.

Mrs Mwanakatwe told Parliament that about 7 billion kwacha will come from reallocating resources and the remainder from “cooperating partners” and carry-over funds from the 2017 financial year.

She said of the total, 3.6 billion kwacha is for domestic and external debt obligations while 1.3 billion kwacha will be spent on completing infrastructure projects.

The Finance Minister stated that 2.3 billion Kwacha will cover shortfalls on government-support programs, by-elections and the recruitment of a further 3,700 medical personnel.

Meanwhile, National Planning and Development Minister Alexander Chiteme has said that the austerity measures being spearheaded by President Edgar Lungu, are not meant to punish his Ministers, but are part of a wider latitude of finding solutions to the governance and economic challenges facing the country.

Addressing diplomats and delegates to the ongoing High Level Political Forum at the Permanent Mission of the Republic of Zambia to the United Nations (UN), Mr Chiteme said while the austerity measures had affected Cabinet Ministers, he was happy that he is part of President Lungu’s efforts to find solutions to the country’s social and economic challenges.

Mr Chiteme is in New York to attend the High Level Political Forum at the United Nations under the theme: “Transformation towards sustainable and resilient societies.”

Mr Chiteme said the austerity measures were but the beginning of many other fiscal and thrift measures Government is to undertake to ameliorate the social and economic benefits for Zambians.

He said the measures that have seen Ministers have their perks slashed significantly will see a reduction in expenditure which has been a drain on the national budget.

“Government under His Excellency President Edgar Lungu has introduced austerity measures which has affected Ministers. But I must say that I am glad to be part of the solution to the country’s social and economic challenges. The austerity measures will see a reduction in expenditure. We are trying, as the Government that the austerity measures will have to trickle down,” Mr Chiteme said.

43 COMMENTS

  1. When Felix Mutati presented the 2017 national budget, he was prattling on about “fiscal consolidation” (translation: cutting spending). But here we are with reality. The year in which he was seeking to cut spending, actual spending still went up. That is why Maggie Mwanakatwe has asked for this supplementary budget to obtain parliamentary backing or normalize what the PF govt has already spent in 2017. The 2018 budget is being implemented now so it is not possible for the supplementary budget to be for 2018. (It is illegal to spend public funds without approval of parliament). Anyone who is able to see what the PF govt embarked on since 2011 was skeptical about Mutati’s fiscal consolidation from the moment he uttered those words.

    • By 2021 all political parties in Zambia should be banned because they are causing more harm that good to the citizenry. There shall not be any political activities in Zambia as from January 2021 and Zambian will look after themselves from the onwards.

      And from immediate effect; UPND is redundant and should be disbanded to pave way to a new strongest opposition to PF. They have stopped making sense and quite frankly they are better off defunct and in extinction! Farewell comrades you fought the battle well but it was not to be, maybe in the next life!

    • These guys always attending ‘high level’ but still end up with ‘low level’ results…..just stealing tax payers money

    • Where is Yamba “I am a boss” Yamba, Junior, Senior Citizen…did we not tell you about the wasted years..give us three paragraphies of nothing.

    • Half of this supplemental budget is going towards debt obligations. So did the government miscalulate their debt servicing obligations or they deliberately under provided for them? Either way, it shows we are now drowning in debt and no honest lender other than the loan sharks from the east will or should give us more debt!

    • “Cutting” ministers’ remuneration is a start, but what Edgar really needs to do is slash the size of cabinet and get rid of joker ministries like presidential affairs, office of the vice president, merge higher education and general education, etc. These should be obvious moves.

  2. “…..Mrs Mwanakatwe told Parliament that about 7 billion kwacha will come from reallocating resources and the remainder from “cooperating partners” …”

    To the resident PF rats on LT , there you have it, when western diplomats voice or tweet concern at your governance , it is because you take their money…..they don’t want their tax payers monies (ie some of us in diaspora who pay tax) spent anyhow, like paying violent pf thugs or lungu globe trotting , they have conditions for spending that money.

    If you don’t want any interference tell mwanakatwe to kindly give back that money…

    • Reallocating resources from where, already we have toll gates collections diverted to paying ZNBC salaries.

    • Imagine being assisted to pay your own debt…then you are busy justifying buying Fire Trucks for $1million and Ambulances for $288,000…you are busy dancing on stage like you are a self made millionaire.

  3. Spaka like when africa gets money from the west we are only getting part payment for in slavery reparations. We are not begging but what rightly belongs to us.

    • What a stu….comment!!!!!What about Arabs and Africans who where mostly involved.Read your History books.Besides how many slaves came from your part of the world?

    • Even for what you deem rightfull payment you go with a begging bowel ?

      Go to the UN and international courts and make them pay properly like how the Jews do , not you go crawling with your tail between your legs begging for aid then ati ” part payment for slavery”

      Have some pride and dignity…

    • I Wonder: Don’t trivialize slavery. We live in the Google world. Search for a slave ship that sunk off the coast of South Africa and Mozambique carrying African captives to the Americas. Read also Czech explorer Emille Holub’s book TRAVELS NORTH OF THE ZAMBEZI on slavery in central Africa. Holub actually came before David Livingstone.

    • # 3.4  Just asking

      “Has the slavery in Africa been eradicated? ”

      No , only now you are being enslaved by corrupt theiving leaders

  4. I hope the dull LT dingbats understand what the words “corporating partners” stands for…when Britain tells you that you have bigger priorities to attend to than creating national airline understand where they are coming from…the support your budget because you are too lazy to fully finance it.

  5. It’s amazing that some people continue to blame the west for the failures that our country has inflicted on itself. How is slavery connected to the failing economy today? We have to simply put our house in order and stop being immature.

    • Slavery and colonialism arrested Africa’s development and led to countless civil wars and tribal feuds accross the continent. To divide and rule us has always been their plan.

    • The Wood is dry but it is still heavy. Slavery may be over but the damage it did to Africa economically is still there.

      Jay Jay, I forgive you for being childish again. Your Avatar reveals that you are not yet fully grown.

    • ATI SLAVERY IS TO BLAME.
      Zambian’s, what’s wrong with your brains, & reasoning capacity kansi?
      Zambia @ independence, had more reserves in its coffers than some Asian countries like Singapore etc.
      These countries today are so developed, & have so much in their reserves, while Zambia has continued to go in reverse, & wallow in poverty, & cholera, despite all the mineral resources, & potential to be a global powerhouse in agriculture, all coz we have leaders busy escorting Mukula @ night, with Russian girlfriends sitting in the passenger seat watching on.
      The fraudulent Inflated 42 Wheelbarrows, Ambulances, Roads -Ndola dual carriageway, Inyatsi, & Pombe Chakolwas Mansion in Mbabane, is whats causing the financial problems Zambia finds itself in today NOT Slavery, so it’s…

    • Our house will never be in order because we have the PF government which preaches about living within our means yet we see scum bags ministers watching the world cut in Russia at the expense building and expanding our water and sanitation facilities . Very soon cholera will come knocking on our doors we will see lazy Lungu parading himself before the cameras picking up a few pieces of paper and call it keep Lusaka clean . What a travesty ! God help us from these mother of all thieves .

  6. What was not on the budget that gobbled K7 billion? Or was it that there was no budget but just papers and speeches in Parliament that meant nothing? What has changed in this 6 months or the budget presented was for 6 months? What changed?

  7. Hahahaha! It’s amazing. See where one is lecturing us from about austerity measures. If they were serious. They could use teleconference or skype facilities. Baane natwekalefye. It’s their time. (kinako fella)

  8. Meanwhile Lazy Lungu will hit Lusaka campaign this weekend and he will be dancing on stage like Koffie….
    Wasted years indeed!!

    • He will be be buying more player, who can lick boots better. Guess where the money will be coming from, no Real Madrid but taxes.

    • And some dingbat will ask why I call Edgar …lazy…well look for you selves his mistakes costs everyone in the country…we are all paying for his recklessness and corruption.

    • Jayd
      Pay cut?You are jocking,they have even refused to pay back money as ordered by the Con Court.These are indeed the wasted years.Only a few months ago the Great Lead-er whilst at some runway[which is where he prefers to address his people]told all those who complained about the ballooning debt to get lost.But this is comedy

  9. The figure of $100 million is ridiculous. So is the figure of $200 million. The cost of any dual carriage way is extremely high such that the estimated $1 billion is reasonable. Government projects can not afford to run out money and then to start hunting for extra money. That is the reason why even 10% overhead needs to be included in the estimate. The same principle applies to the completion point. Government projects can add an allowance of 6 months or one year to avoid public humiliation and shame as projects continue to extend the completion point. On this one, the analysis provided by Lubinda Habazoka is on firm ground. Secondly, there is no justification for government to seek permission from TS before embarking on road construction projects. It is wrong to pretend that civil…

    • Secondly, there is no justification for government to seek permission from TS before embarking on road construction projects. It is wrong to pretend that civil engineers at RDA are not capable of costing a road construction project. The debate needed to be between road engineers and public accountants.

    • The close relationship between project owner and rock star contractors is the main source of these problems.

  10. Zambia is truly being ruled by *****s who are wholly clueless about governance. We cannot all the time keep on living on debt and hope to curve out any respectability from anyone. It’s also so shameful that these completely useless ministers were getting such monstrously hefty perks such that when austerity is imposed on their perks by the IMF, a significant reduction in wasteful expenditure, which has been a drain on the national budget, was recorded! Now you go figure out how much the likes of Dora “Nullity” Siliya, Jameson Mutaware Lungu etc are draining your state coffers, its a haemorrhage we are talking about here, no wonder Zambia has caught pneumonia! Mwati ziko inga pulumuke choncho, awe sure!

  11. There is only so much you can do with dwindling resources. Typical characteristics of a consumption based economy with no major production base and Capital Flight by some of the so called investors. Priority given to infrastructure development instead of striking a balance with uplifting the living standards of the general populace. Now its crisis management all the way.

  12. How much did the VX kaizer Zulu wrote off cost GRZ ?

    How much is owed by ministers as ordered by concort to repay ?

    How much does one presidential trip abroad cost ?

    Then you will know who much the parasites are sucking the blood of the sufferers

  13. the Zambian economy is dead the dununa reverse government is over borrowing to eat they are sharing the borrowed money among themselves

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