Friday, February 23, 2024

Government releases K10.9 billion in February 2023 for budget execution

Share

Zambia’s Ministry of Finance and National Planning has announced that K10.9 billion was released in February 2023 to fund various public service delivery programs. The funds were disbursed as follows: K3.6 billion was released for public service wage bills, K3.5 billion was spent on debt service and other liabilities, K1.5 billion was released for transfers, subsidies and social benefits, K1.7 billion was released for general operations and program implementation, and K573.5 million was spent on capital expenditure for road infrastructure.

The Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, emphasized the importance of financial governance and efficient public resource utilization in contributing to the economic transformation and improved well-being of Zambian citizens. He also called on public institutions to communicate their program implementation milestones quarterly to the public and ensure that funds released by the Treasury are utilized efficiently and effectively.

The K1.5 billion released for transfers and subsidies was distributed to various government ministries for operations, public hospitals, and grant-aided institutions. The Youth and Women Empowerment Funds under the Constituency Development Fund received K220.8 million, while K209.9 million was allocated for the Social Cash Transfer Programme countrywide. K120.1 million was released for the operation of public universities, K111.6 million was allocated to the Local Government Equalization Fund, and K108.0 million was designated for the Food Security Pack Programme.

In addition, K573.5 million was spent on road infrastructure to ensure emergency road works are carried out, and K1.7 billion was released for general operations of government ministries, provinces, and agencies, with K436.7 million spent on medical supplies and equipment. K3.1 billion was allocated towards the payment of domestic and external debt, while K376.1 million was spent on dismantling arrears to suppliers of goods, services, and fuel.

The Minister of Finance and National Planning emphasized the need for strengthened monitoring and evaluation processes and increased stakeholder engagement on treasury information briefs to encourage public participation in monitoring and evaluating developmental programs in their localities. The government is committed to reducing the country’s indebtedness while ensuring effective public service delivery.

1 COMMENT

  1. Good transparency. What this government has done well is timely release of resources. Keep it going as you address other issues.

Comments are closed.

Read more

Local News