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Alba Iulia
Monday, May 10, 2021

Government records a positive growth on revenue collected from January to March 2021

Economy Government records a positive growth on revenue collected from January to...

Government has recorded a positive growth on revenue collected from January to March 2021, Secretary to the Treasury Fredson Yamba has announced.

Mr Yamba said during the period under review, the treasury collected revenue amounting to K18.5billion representing 13 percent above target.

He said the first quarter approved budget target for total revenues and grants was projected to be K16.3 billion with K12.4 billion from taxes, K3.3 billion from non-tax revenues and K469.6 million from grants.

Mr Yamba was speaking during a media briefing in Lusaka yesterday, adding that the over-performance was mainly driven by payment of Pay As You Earn (PAYE) tax arrears, upward amendments of provisional returns and advance payments by both Mining and Non-Mining firms.

He said with regard to government spending, total expenditures in the first quarter of 2021 stood at K22 billion representing 23 percent below the projected K28.6 billion.

Mr.Yamba added that notable expenditures included K6.6 billion for Personal Emoluments, K3.2 billion for the Use of Goods and Services, K2.5 billion on Non-financial assets and K2.5 billion on transfers and subsidies.

He said as the nation continues to embrace a multi-sectoral development approach, it is important that the government undertakes countrywide budget consultations to get input of all stakeholders.

Mr. Yamba noted that the country’s fiscal deficit remains high and that there is a need to continue formulating revenue policies that will enhance revenue collections while promoting the country’s development agenda.

“The 2020 and 2021 fiscal years required the government to take measures to cushion the impact of COVID-19. While this was imperative, there is a need to formulate a medium -term policy that will put the country back on a trajectory that will achieve fiscal consolidation “, he said.

He has since launched the 2022 budget consultations and invited the public , private sector players and non- state actors to make proposals on tax and non- tax policies for possible inclusion in the 2022 National Budget.

18 COMMENTS

  1. When God is on our side, no one can come against us. Upnd diasporans how does that make you feel? You constantly pray for bad things to happen to us here in Zambia. And yet there abroad the whltes smile at you but behind your backs they call you smelly n.l.g.g.e.rs.

    Also prayers for hh who is in a coma in critical condition . Get well soon.

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  2. Positive growth in revenue but cannot keep up with loan repayments and cannot buy medicines without shamelessly begging…..banana republic indeed.

  3. @kasaka your name says it all. You must be a useless unemployed f00l being kept by the whlte man over there abroad. How can they call me that when I live in Zambia and only interact with British government officials in official duty. You are embarrassing us over there

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  4. It is true had the nation not suffered because of the Covid-19 pandemic then a more positive percentage could have added to our revenue collection.

  5. Please pass this message to Hichilema that we are growing under the leadership of President Lungu, we don’t want him.

  6. We are extremely happy by the fact that the country has collected positive revenue reports before elections. Now, no haters or HH supporters will dare to say that the country’s economy is drowning because of President Lungu’s government, and manipulate the mind of innocent Zambians ahead of elections.

  7. We knew this would happen for sure as we have witnessed a huge number of development and empowerment projects under the administration of President Edgar Lungu!

  8. Congratulation to every Zambian even those who criticized the President for tax collection and launching multi-sectoral development projects.

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