WE HAVE MADE PROGRESS – MUSOKOTWANE
WE HAVE MADE PROGRESS – MUSOKOTWANE
….in July 2024, goverment released K16.8 billion to finance developmental programmes & general public service delivery
Lusaka…. Wednesday August 21, 2024 (SMART EAGLES)
The Ministry of Finance and National Planning says in July 2024, it released K16.8 billion to finance developmental programmes and general public service delivery.
The Ministry says of the amount, K4.1 billion went to the public service wage bill, K4.3 billion was spent on debt service (domestic and external) and arrears, and K5.6 billion was released for transfers, subsidies and social
benefits.
Finance Minister Dr. Situmbeko Musokotwane says his ministry also released K1.8 billion for the implementation of various Government programmes and general operations, while K968.1 million was spent on capital expenditure.
Reflecting on July 2024 budget releases, Dr. Musokotwane said the consistent flow of funds from the Treasury to other Ministries and Spending Agencies for developmental programmes and
uninterrupted public service delivery, is a sign of policy effectiveness and consistency.
“Our policies have helped the economy to remain buoyant, despite energy and food security challenges. Despite the progress, significant challenges still remain, such as poverty and vulnerabilities escalated by the drought and electricity disruptions,” he said.
In a show of solidarity with the business sector, the Minister has pledged that the Government’s
medium-term thrust will be to upscale private sector investments; particularly in agriculture and livestock development, tourism, manufacturing, mining, energy and the green economy.
“Furthermore, the Government will leverage on modern technology and prioritize social
protection interventions to safeguard the most vulnerable, drive economic growth and build resilience,” he added.
And analysing the July 2024 budget performance in-tandem with the performance of the 8thNational Development Plan, the Minister said substantial economic transformation progress has been achieved as seen by a more stable macroeconomic environment compared to other countries in the African region; the free education policy; expanded bursary schemes; and regulatory reforms targeted at enhancing transparency in debt management, improving public procurement efficiencies and strengthening the Public Private Partnership framework.
“In line with commitment to reducing its indebtedness, a total sum of K4.3 billion was released. Of this amount, K3.1 billion was released towards domestic debt service, K321.1 million was released for external debt service while K883.8 million was used to dismantle arrears. Transfers and Subsidies: The Treasury released a total of K5.6 billion for transfers and subsidies. Notable expenditure items included: K494.4 million for Grants to Schools to support free education; K358.9 million for the operations of hospitals and Grant Aided Institutions (GAIs) in government ministries; K241.5 million to the Local Government Equalization Fund; K209.1 million as a grant to ZRA to support operations and resource mobilisation; K145.4 million for universities operations and loans and scholarships; and, K100 million for the Food Security Pack,” he disclosed.
“Furthermore, a total of K2.4 billion was released for the Farmer Input Support Programme (FISP), while K1.7 billion was released to the Food Reserve Agency (FRA). General Operations: Government released K1.8 billion to facilitate implementation of programmes and other general operations under various government institutions. Notable items included: K300 million for procurement of drugs and medicals supplies; K111.9 million for various donor funded programmes supported by cooperating partners; and, K60.3 million for skills development levy.”
Dr Musokotwane further said government released a sum of K968.1 million towards capital expenditure.
He said of this amount, K381 million was for road infrastructure, K345 million for medical equipment and infrastructure, K122.5 million for school infrastructure projects and K118.6 million for infrastructure projects under various Ministries, Provinces and Agencies.
“Wage Bill: Government spent a total of K4.1 billion on costs relating to the Public Service
Wage Bill (Personal Emoluments) for various public service workers, including health, teaching
and overseas allowances for Zambian diplomats in missions abroad,” he stated.
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