Thursday, April 18, 2024

Zambian government releases January budget totaling K12.4 billion

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The Finance and National Planning Minister of Zambia, Dr. Situmbeko Musokotwane, has announced that the government will continue to prioritize public resource management and economic governance in 2023 to ensure the benefits of economic transformation reach the citizens of Zambia.

In a statement made on Friday, Dr. Musokotwane emphasized the importance of committing to the implementation of government programs and ensuring that budget performance remains strong.

“We all need to be diligent and steadfast in executing our tasks, as delays in program implementation have a significant impact on our transformation agenda. We must tackle this issue in 2023 to achieve substantial developmental progress and reach our budget targets.” said Dr. Musokotwane.

The minister also called on all relevant government agencies and ministries to prepare for the implementation of projects set to commence after the rain season.

“It is imperative that administrative preparations are made ahead of time, so that as soon as the rain ceases, project implementation can commence on schedule,” Dr. Musokotwane added.

According to the statement, in January 2023, the Treasury released K12.4 billion to finance public service delivery. The majority of this amount, K3.6 billion, went towards the public service wage bill, while K3.5 billion was spent on debt service and other liabilities.

Releases to transfers, subsidies and social benefits amounted to K2.4 billion, with notable expenditures including K635.6 million for the Public Service Pension Fund, K427.7 million for grants to schools, K342.1 million for the operations of public hospitals and other grant-aided institutions, K217.9 million for secondary schools and skills development bursaries, K209.9 million for the Social Cash Transfer Program, and K115.1 million for the operations of public universities.

K2.4 billion was also released for the implementation of various government programs and general operations. Notable expenditures included K4 million for the land titling project, K436.7 million for the procurement of drugs, medical supplies, and equipment, and K1.8 billion for the general operations of government agencies, provinces, and ministries.

In addition, K524.8 million was released towards capital projects, with K303.6 million spent on road infrastructure, K221.2 million on water, education, and health infrastructure projects. K3 billion was also released for the payment of domestic and external debt, and K464 million was used to dismantle arrears to suppliers of goods, services, and fuel.

Dr. Musokotwane emphasized that all government agencies and entities must utilize the funds released by the Treasury in an efficient, effective, and timely manner to achieve the economic transformational objectives outlined in the budget and the Eighth National Development Plan (8NDP).

“We have a duty to the people of Zambia to achieve the goals set forth in the budget and the 8NDP. To do this, the timely and efficient implementation of budgeted programs is critical,” stated Dr. Musokotwane. “We must work together to ensure that the funds released by the Treasury are used for the betterment of our citizens and the country as a whole.”

6 COMMENTS

  1. Musokotwane bicycle hoarder for RB, removes VAT on dairy machinery to benefit his wife, reduces property transfer tax on mining right to appease his boss’s financiers.
    ZRA is used to refund his and his masters’ friends out of turn and in the process their appointees as well make deals with desperate businessmen. What a rotten UPND and it’s stooges!

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    • And Muna Hantuba and HH owned Africa Life given contract to manage Mining Environmental Fund. This is economic day time robbery

  2. Half of the money was spent on Presidential foreign trips…..we need to get rid of all Politicians ih Government and replace them with Managers ……Plant more trees

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  3. Mwebantu I have a terrible bout of diarrhoea. Things have not been same since prison. I was poisoned in there to kill me but I survived because I am strong.

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