Govt spends K3.5 bn in Jan on debt service, other liabilities

7th February 2023

Business

Finance Minister Dr Situmbeko Musokotwane makes his way to the Parliament to present the 2023 budget on Friday, September 30, 2022 – Picture by Milimo Namangala

Business

Finance Minister Dr Situmbeko Musokotwane makes his way to the Parliament to present the 2023 budget on Friday, September 30, 2022 – Picture by Milimo Namangala

THE Ministry of Finance and National Planning has disclosed that the Treasury released K12.4 billion to finance public service delivery last month. In a statement yesterday, the ministry said about K3.6 billion went to the public service wage bill whilst K3.5 billion was spent on debt service and other liabilities. “We now take this opportunity to brief the nation that in January 2023, the Treasury released K12.4 billion to finance public service delivery. Of this amount, K3.6 billion went to the public service wage bill whilst K3.5 billion was spent on debt service (domestic and external), and other liabilities. Releases to transfers, subsidies and social benefits amounted to K2.4 billion. Out of the K2.4 billion released towards transfers and subsidies....

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Philip Chisalu

Philip is a story-driven Journalist adept at developing articles and investigating issues with tenacious and unwavering dedication. Offering several years of experience in print, radio and online media. Email: philip [at] diggers [dot] news