The Ministry of Finance has disbursed a total of K13.7 billion to support various aspects of public service delivery.
Of the total funds disbursed, 3.6 billion Kwacha has been allocated to transfers, subsidies, and social benefits, demonstrating the government’s commitment to supporting the welfare of its citizens. This category includes allocations of 115.1 million Kwacha for university operations and students’ loans and scholarships, 764.5 million Kwacha for social cash transfers, and 206.8 million Kwacha for hospital operations and grant-aided institutions.
Additionally, the Ministry of Finance has allocated 3.4 billion Kwacha for servicing both domestic and external debt and arrears. This allocation underscores the government’s dedication to fulfilling its financial obligations and maintaining its creditworthiness.
The public service wage bill has received 3.8 billion Kwacha to ensure that government employees are compensated adequately for their essential work in delivering public services. This allocation reflects the government’s commitment to its workforce.
Capital expenditure, vital for infrastructure development and economic growth, has been allocated 1.3 billion Kwacha. This funding will support projects and initiatives aimed at improving the country’s infrastructure and overall economic prospects.
In addition to these allocations, an extra 1.5 billion Kwacha has been disbursed for the Farmer Input Support Program (FISP) and the Food Reserve Agency (FRA). These programs are crucial for food security and supporting the agricultural sector.
Moreover, the Ministry of Finance has reported that an additional 1.5 billion Kwacha has been released to facilitate service delivery, ensuring that government programs and initiatives run efficiently and effectively.
In the past week, the Ministry of Finance held several development cooperation and investor relations meetings with local and foreign partners. These discussions included engagements with the Canadian Minister for International Corporation Development, a parliamentary team from Japan, Chambishi Copper Smelter, and the International Monetary Fund (IMF). These engagements demonstrate Zambia’s commitment to fostering partnerships and cooperation with the international community to drive its development agenda.