Zambia has raised over 6.8 billion out of the 8 billion Kwacha COVID-19 Bond. Finance Minister Bwalya Ng’andu says the money is currently being distributed.
Dr. Ng’andu said that the government is ensuring liquidity into the economy through the stimulus package to create activity in the domestic economy.
Dr. Ng’andu said that the money will go towards the payment of arrears owed to suppliers of goods and services to government and money owed to pensioners and retirees.
Dr. Ng’andu was speaking to journalists in Lusaka today.
And the Finance Minister disclosed that he will present the realigned 2020 budget between this week and next week. Dr. Ng’andu said preparations for next year’s budget have also commenced with Provincial consultations during this week.
He said COVID-19 has had an immediate impact on revenue as there has been a substantial reduction.
Dr. Ng’andu said the budget is however on course and will be presented on time.