Government has reportedly spent K3.5 billion on debt servicing in February, as it pledges to build on the economic gains achieved so far.
In February 2033, the Ministry of Finance and National Planning released K10.9 billion to finance public service delivery.
Finance Minister Situmbeko Musokotwane said of this amount, K3.6 billion was released to finance public service wage bill whilst K3.5 billion went to service both domestic and external debt and other liabilities.
Read more :Budget 2023: Govt injects K1.8bn into economy for public service delivery
Furthermore, the Treasury released K376.1 million towards dismantling of arrears to suppliers of goods, services and fuel.
The minister further said that K1.5 billion was for transfers, subsidies and social benefits.
He said in statement issued in Lusaka on Thursday that K1.7 billion was released for implementation of various government programmes and general operations.
About K573.5 million was spent on capital expenditure such as road infrastructure.
Of this amount, K330.8 million went to operations of grant aided institutions, K220.8 million was for youth and women empowerment funds under the Constituency Development Fund (CDF).
About K209.9 million was released for the social cash transfer programmes countrywide.
Giving an highlight to the 2023 budget execution, he said about K120.1 million went towards financing of the operation of public universities.
Musokotwane said the government will continue to
build on the gains made in financial governance and ensure that the utilisation of public resources effectively contributes to economic transformation and improvement of the well-being of Zambian citizens.
He reiterated the government’s position that the public sector has a duty to offer quality services and help achieve the economic transformational objectives outlined in the budget and the Eighth National Development Plan (8NDP).
“To do this, the timely, cost-effective and efficient implementation of budgeted programmes is cardinal,” Musokotwane said.
He said to effectively facilitate the execution of budgeted programmes, the Ministry of Finance and National Planning will strengthen the monitoring and evaluation processes and increase the frequency of stakeholder engagement on treasury information briefs.
“We believe that in this way, the public will also be encouraged to participate in monitoring and evaluating the implementation of developmental programmes in their localities,” Musokotwane said.
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