Government to borrow K16.6bn in financing supplementary budget

GOVERNMENT plans to borrow K16.6 billion through additional concessional financing using both domestic and external sources as part of financing the supplementary budget, necessitated by the current drought situation.

Last month, Finance and National Planning Minister, Situmbeko Musokotwane, proposed a K41.9 billion revised budget to Parliament which was later approved.

Giving an update on the sources of supplementary expenditure yesterday, Dr Musokotwane said US$194.5 million out of this amount was part of the funds expected to come from the International Monetary Fund (IMF).

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