Sunday, July 14, 2024

President Hichilema instructs the Minister of Finance to request parliament to approve a supplementary budget of about K22 billion

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President Hakainde Hichilema has instructed the Minister of Finance, Dr Situmbeko Musokotwane to request parliament to approve a supplementary budget of about K22 billion arising from financial prudence.

In a statement published on his official Facebook page, the President noted that this makes the 2022 budget circa K195 billion as opposed to K123 billion in the previous year.

He added that the extra generated revenue will be used to increase funding towards fertiliser support programme, dismantle arrears for suppliers and contractors, payment of retirees and construct more road.

“The resources have been allocated to benefit our citizens and generate more revenue as opposed to lavish lifestyles in private jets, VXs, and outright looting,” he said

President Hichilema said Zambia had resources and what was missing was a prudent management of resources.

“We therefore hope your Members of Parliament (MPs) will support the supplementary budget,” he stated

8 COMMENTS

  1. Be mindful of the long-term budget outlooks and ensure that we are on long-term sustainable trajectory without erosion a of extended baseline given the revenue mobilizations local on taxation and spending policies especially looking at the projected growth of of the economy and spending growth on the health, education , infrastructure ,agricultural and principal including interest costs. Under current scenarios without further financing support from external debt will rise to 90 percent of GDP at the end of FY 2022 and further beyond 2022 t0 2030 Its important therefore to emphasize and work the local economies to sustainably achieve economies long term and prudently utilize and depend of external financing and grants for yoy budgetary support The baseline…

  2. People posting praises without asking what has caused the deficit. Anyway it has been like this since independence.. idolizing mere mortals like they were gods.

  3. The 2022 Situmbeko Musokotwane budget was pegged at ZMW173 billion promising jobs, growth and constituency development. Today, the president is asking the legislature to add 22bn to make it K195bn citing financial prudence.
    Last month, retirees dating as far back as December 31, last year were paid K2.6bn. About K1.1bn is set aside for next pensioners this year.
    Hakainde Hichilema promised farmers more bags of fertiliser than what is obtaining on the floor. Pricing of farm produce by FRA leaves much to be desired.
    I support this supplement to tackle the deficiency

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