Ministry of Finance and National Planning Economist Samantha Longwe has disclosed that government has allocated 52 billion towards domestic debt servicing in the 2026 budget.
Making a presentation during a citizens budget dissemination meeting, MS Longwe stated that 21.7 billion will be used to repay borrowed external and domestic loans.
“We have 4.7 billion which will be used to pay arrears to local suppliers of goods and services to ensure that there is enough money circulating in the economy” Ms Longwe said.
Ms Longwe further stated that 1.2 billion has been allocated towards conducting general elections while 1.4 billion will be for local government equalisation fund.
“Under the general public services 92.6 billion has been allocated and the key focus area include dismantling of arears and empowering local people,” Ms Longwe said.
Officiating at the meeting Provincial Deputy Permanent Secretary Luckson Mulumbi has stated that budget implementation affects everyone therefore it is imperative for every stakeholder to understand it’s content.
“It is imperative for every stakeholder to understand what the budget is saying in the area of health, education and agriculture,” Mr Mulumbi said.
Mr Mulumbi stated that the need to simplify the budget for easy understanding for everyone cannot be over emphasised.
“As government in North-Western Province we are also hopeful that this meeting will bridge the information gap between government’s allocation of resources but also serve as a forum to engage various economic actors on how government allocates resources,” Mr Mulumbi said.
