Tuesday, May 28, 2024

Government has released K10.8 billion for various developmental, debt-service and operational programmes

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The Government has released K10.8 billion for various developmental, debt-service and operational programmes.

Finance and National Planning Minister Dr. Situmbeko Musokotwane, said the government was pleased with the positive performance trajectory of the 2022 budget, which had seen the sustained financing of social sectors, installation of over 41, 000 new employees on the public service payroll, and meeting of several budget obligations for the current year.

He was speaking in reference to the November, 2022 budget expenditure whereby K10.8 billion was released to finance public service delivery.

Dr Musokotwane said of the total amount, K2.9 billion was spent on debt service (domestic and external) and other liabilities and K3.3 billion was released towards the public service wage bill. Releases to transfers, subsidies and social benefits amounted to K2.9 billion.

“With regard to subsidies, the government released K1.7 billion towards 2022/2023 season Farmer Input Support Programme (FISP). We are confident that the logistical challenges of the past few weeks have been overcome and that all the remaining beneficiaries are now receiving their input supplies,” he said.

Dr Musokotwane said K775.8 million went towards capital expenditure of which K478.6 million went to road infrastructure, K65.1 million for strategic fuel depots and the balance of K232.1 million went towards other infrastructure projects, sanitation inclusive.

“A sum of K867.3 million was released by the Government to facilitate service delivery under various state institutions. Under this aspect, notable expenditure items included K315.6 million for general operations in Ministries, Provinces and Agencies (MPA’s) and K100 million to the Disaster Management and Mitigation Unit while K84.9 million to the Skills Development Fund and K28 million for various statutory by-elections.

He also said of the K2.9 billion which was released under the transfers (K1.2 billion) and subsidies (K1.7 billion) component: K605 million went to the community projects components under the Constituency Development Fund, K147.4 million was targeted for operations of Grant Aided Institutions under various Ministries;3)

Dr Musokotwane said K111.6 million was for the Local Government Equalisation Fund while K99.8 million was for operations of public universities; and K224.1 million went to the Zambia Revenue Authority to support operations and resource mobilisation.

Furthermore, in line with Government’s commitment to reduce indebtedness, a sum of K2.7 billion was released towards the payment of both domestic debt and external debt owed to multilaterals.

“The Treasury also released K257.6 million for dismantling of arrears owed to suppliers of goods and services to help unlock liquidity and turn the wheels of the economy through SMEs.

2 COMMENTS

  1. Do not be deluded, the same deals that PF officials were getting, UPND people are getting but they have told not to show off.

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  2. Sanity is being restored…………..

    Come the end of 2024……………..

    The opposition will be reduced to street corner lone characters holding placards……….

    Zambians wil be too busy working and reaping the ripening fruits of a well managed economy……….

    Forward 2031

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