MINISTRY OF FINANCE & NATIONAL PLANNING RELEASES JULY 2023 BUDGET REPORT
The Ministry of Finance and National Planning has issued the July 2023 Budget Releases Report, highlighting the allocation of K11.8 billion to finance public service delivery.
Key allocations from the released funds include K2.3 billion for transfers, subsidies, and social benefits, K2 billion for various Government programs and general operations, K135.8 million for roads infrastructure, K4.3 billion for the public service wage bill, and K3.1 billion for arrears and debt service (domestic and external).
The report revealed significant spending under the Transfers and Subsidies category, with K2.3 billion disbursed to support various essential sectors, including operations of hospitals and Government Grant Aided Institutions (GAI’s), school grants, food security packs, constituency development fund (CDF) for secondary school & skills development bursaries, social cash transfer program, public universities’ operations, and local government equalization fund, among others.
The Ministry of Finance also directed K2 billion to facilitate service delivery across different Government institutions through its General Operations allocation. An additional K135.8 million was channeled towards road infrastructure projects.
Regarding the Public Service Wage Bill, the Government expended K4.3 billion on costs relating to personal emoluments for public service workers.
In alignment with the commitment to reduce indebtedness, K2.9 billion was allocated to pay both domestic and external debt in July. The Treasury also allocated K217.1 million to settle arrears owed to suppliers of goods and services.
Reflecting on the budget execution, Dr. Situmbeko Musokotwane, MP, Minister of Finance and National Planning, expressed optimism in the progress made by the New Dawn Administration in fulfilling its promises to fix the economy. The administration has focused on restoring budget credibility, reducing inflation, and stimulating growth.
The Minister highlighted the government’s commitment to providing education accessible to all citizens through timely funding of school grants and free education programs. He emphasized the importance of the Comprehensive Agriculture Support Programme in supporting upstart and small-scale farmers, and the potential for Zambia’s agricultural sector to create jobs and business opportunities.
Dr. Musokotwane encouraged citizens to embrace business opportunities and investments, both local and foreign, to fuel economic growth and development.
In conclusion, the Minister called on public officials to maintain efficiency, honesty, and expedite facilitation of private sector investments, urging all Zambians to take an active role in the country’s development agenda.
