Debt servicing gulps K2.9bn, as government releases K10.8bn for projects

The Zambian Government is pleased about the positive performance trajectory of the 2022 budget, as it releases K10.8 billion for public service delivery.

In November, 2022, the treasury released  K10.8 billion to finance public service delivery under the 2022 budget expenditure.

Zambia’s Finance and National Planning Minister Situmbeko Musokotwane  said   K2.9 billion was spent on debt service both domestic and external and other liabilities and K3.3 billion was released towards the public service wage bill.

Releases to transfers, subsidies and social benefits amounted to K2.9 billion, he said in a media statement released by Ministry Spokesperson Chileshe Kandeta on Monday, December 12, 2022.

This also saw the installation of over 41, 000 new employees on the public service payroll, and meeting of several budget obligations for the current year.

With regard to subsidies, the Government released K1.7 billion towards the 2022/2023 season under the Farmer Input Support Programme (FISP).

“We are confident that the logistical challenges of the past few weeks have been overcome and that all the remaining beneficiaries are now receiving their input supplies,” Musokotwane said.

He added that in the month under review, the Government also released K867.3 million for implementation of various developmental programmes and general operations.

K775.8 million went towards capital expenditure of which K478.6 million went to road infrastructure.

About K65.1 million  would  go  for strategic fuel depots and the balance of K232.1 million went towards other infrastructure projects, sanitation inclusive.

A sum of K867.3 million was released by the Government to facilitate service delivery under various state institutions.