- Goal Diggers
- Guest Diggers
Govt spent K943m on debt servicing in Nov, reveals MwanakatweBy Mukosha Funga on 11 Dec 2018
Finance Minister Margaret Mwanakatwe says government remains committed to servicing debt so as to reduce Zambia’s indebtedness and ensure fiscal sustainability.
And Mwanakatwe says for the first time in a long time, government has released Constituency Development Funds on time.
Announcing November 2018 budget releases in a statement issued by ministry spokesperson Chileshe Kandeta, Monday, Mwanakatwe revealed that K943 million was released to service both internal and external debt.
“In November, 2018, the Ministry of Finance released a total of K4.8 Billion to finance public service operations and sustain service delivery. Of this amount, K943 million was funded to service both the domestic and external debt; K940 million went towards grants to various institutions; K1 billion was released to finance various government projects, programmes and general operations; and, K1.9 billion went towards the public service wage bill. The Treasury also released a total of K169.3 million as Constituency Development Fund (CDF) in November 2018, to support various community-based projects in all constituencies,” read the statement.
“Of the K4.8 billion total funding for November 2018, releases for capital expenditure totalled K422.9 million, of which K193.2 million was for payment towards continued works and completion of road projects across the country, K10.6 million went towards the Rural Electrification Programme, and K49.8 million for other capital expenditure programmes across the nation…In order to continue reducing the country’s indebtedness and ensure fiscal sustainability as projected in the Economic Stabilisation and Growth Programme [ESGP] and the Medium Term Debt Strategy [MTDS], the Government released a sum of K942 million in November 2018 for payments towards both domestic and external debt obligations. This is a practice to which the Ministry remains committed.”
And Mwanakatwe said for the first time in a long time, government has released Constituency Development Funds on time.
“Mrs. Mwanakatwe has also indicated that this is first time in a long-time that the Treasury has not lagged behind in releasing resources for the Constituency Development Fund [CDF]. She added that as soon as the 2019 National Budget is approved, Members of Parliament, in collaboration with other stakeholders in their jurisdictions, will have an opportunity to focus on community initiatives using the released CDF resources,” read the statement.
The Treasury also released K458.7 million towards the Farmer Input Support Programme (FISP), of which some of the funds were channeled towards clearing outstanding bills under the programme.
“With regard to support for agriculture development, the Treasury released a sum of K458.7 million towards the Farmer Input Support Programme (FISP). This is to cater for the speedy implementation of the FISP programme during the current 2018/2019 farming season, through both the e-Voucher and the direct redeeming programme windows,” read the statement.
“For the purpose of clarity, the Ministry of Finance wishes to state that some of the funds from the K458.7 million were allocated to the process of dismantling outstanding bills under the FISP programme. The total amount released towards the FISP programme now stands at K1.74 billion from January 2018 to end November, 2018. The Food Reserve Agency also received K50 million in November 2018 to liquidate some outstanding bills and to procure maize and other grains in accordance with state stipulations for strategic reserve requirements.”
According to the statement, K379.3 million in total was released for dismantling debt relating to goods and services procured by various ministries and spending agencies.
“Further, a sum of K46.1 million was released to liquidate outstanding liabilities related to the consumption of goods and services by various line Ministries, Provinces and Spending Agencies. This brings the total amount released in 2018 for dismantling arrears to K379.3 million. The Treasury further released K142 million to support the activities and operations of various central government institutions. Of this amount K50 million went towards the procurement of drugs and medical supplies in public health institutions. In addition, public grants for supporting the operations of various public institutions such as hospitals and other medical institutions amounted to K60.6 million, while universities and schools country-wide got K116.3 million,” read the statement.
“In order to achieve the timely payment of November salaries for various public service workers, including teaching, medical and security personnel, the Government spent a total of K1.9 billion on the Public Service Wage Bill (Personal Emoluments). The Zambia Revenue Authority received K66.2 million during the month under review to ensure that the strengthened domestic resource mobilisation drive remains on course. K89.9 million went towards supporting the operations of local authorities across the country through the Local Government Equalisation Fund (LGEF) and a further K180.5 million was released in November 2018 to support the operations of other public entities and quasi-governmental organisations.”
Mwanakatwe noted that reforms related to the removal of consumption subsidies and austerity measures which government had implemented were now bearing fruit as seen by the timely releases of funds to productive sectors such as agriculture and to social sectors such as education, health, and public welfare.
She called on Ministries, Provinces and other Controlling Bodies to remain instrumental in actualizing President Edgar Lungu’s vision of developing the country without leaving anyone behind by ensuring that there is prudence in the management and utilization of public resources at all times.
About Mukosha Funga
Mukosha is interested in good governance and anti-corruption reporting.
- Legana factory is extremely clean, testifies Nawakwi - 12 Feb 2020
- Refusal to surrender power is treason – Musa - 12 Feb 2020
- Confusion rocks UNZA as management cuts ties with UNZALARU - 11 Feb 2020
- Being unmarried doesn’t mean you are senseless, says Lungu as he sells single PF candidate for Chilubi - 11 Feb 2020
- Lungu shouldn’t run Zambia like an extension of his bedroom – Kambwili - 10 Feb 2020
- Enjoy the sweet, but remember Guy Scott who sweated for it (8,072 views)
- Criminals gas 33 in Chipata (7,776 views)
- The real mad people will be known in 2021, Kambwili tells Lungu (3,204 views)
- No gassing suspect has turned into a cat – Kampyongo (2,637 views)
- Lusaka in chaos after gassing, solders deployed to stop riots (1,997 view)
- Fire tenders can't fix Lusaka floods, we need heads that can think
- Enjoy the sweet, but remember Guy Scott who sweated for it
- Lusaka in chaos after gassing, solders deployed to stop riots
- How PF became a satanic and tribalist party in two weeks
- Kalusha and three others disqualified from contesting FAZ presidency
Subscribe for news email alerts
ArchivesMar0 PostsApr0 PostsMay0 PostsJun0 PostsJul0 PostsAug0 PostsSep0 PostsOct0 PostsNov0 PostsDec0 Posts
- «February 2020»
- February 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
Do NOT follow this link or you will be banned from the site! wpDiscuz
- UNZALARU’s concerns are real, they should be heard, says CCZ
- There’s no need for a state of emergency – Nevers
- Bowman dangles $100, 000 for teachers’ loans in Kabushi
- Dialogue fosters development – Wina
- Lungu wants Kambwili back in PF, claims GBM
- Zambia may not achieve Vision 2030 at the projected growth rates – ZTP
- Lusaka student gets 18 months for stealing laptop
- Kambwili applies for leave to challenge Magistrate Kaoma’s barring of Mweemba
- UPND, NDC seek to amend summons in Chilubi election case
- Kambwili retracts allegations against KCM liquidator
- Lusaka police nab 50 for disorderly conduct as mob justice claims 3
- Criminals gas 33 in Chipata
The News Diggers
Deputy News Editor
Send this to a friend