Zambia News

K15.5bn Released By Govt

In March 2023, the government released 15.5 billion Kwacha to finance the provision of public services.

SITUMBEKO MUSOKOTWANE, the minister of finance and national planning, claims that 5 billion Kwacha were made available for transfers, subsidies, and social benefits, while 5.1 billion Kwacha were used to pay off domestic and foreign debt as well as to clear arrears.

Dr. MUSOKOTWANE claims that the public service wage bill cost 3.6 billion Kwacha.

According to him, the government also provided 1.3 billion Kwacha for general operations and the implementation of various government programs, and 500 million Kwacha was used to build road infrastructure.

Dr. MUSOKOTWANE reported that the government has started making plans for the 2024 National Budget.

Dr. MUSOKOTWANE stated that for the purpose of review and potential inclusion in the 2024 National Budget, his Ministry is accepting submissions on tax, non-tax (such as user fees and fines), and expenditure recommendations.

He announced that extensive consultations on the 2024 Budget and the 2024 to 2026 Medium Term Spending Framework will be conducted by the Ministry of Finance and National Planning.

According to Dr. MUSOKOTWANE, suggestions must demonstrate how the current regime of tax and non-tax policy challenges local enterprises and other developmental endeavors and how it has a detrimental influence on them.

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