By Daily Revelation Reporter
The government in October 2023, paid K1.9 billion for payment of both domestic and external debt obligations.
“We take this opportunity to reiterate that next year, domestic and external financing will be mobilized in accordance with the Annual Borrowing Plan to be approved by Parliament. This will help us close the financing gap in the 2024 Budget and facilitate implementation of various programmes and projects which we would not be able to implement from general revenues alone,” stated Secretary to Treasury Felix Nkulukusa.
The K1.9 billion was part of the K12.7 billion the Ministry of Finance released in total in total in October 2023 to finance development programmes, public service, arrears and wagesm and that of this amount K2.8 billion was released for transfers, subsidies, and social benefits, K2 billion for implementation of various government programmes and general operations and an additional K2 billion for capital expenditure, with K3.7 billion for public service wage bill.
The money released for subsidies included K513.7 million for Constituency Development Fund, K217.9 million for secondary schools and skills development bursaries and K295.8 million for youth and women empowerment.
“Regarding CDF, Finance and National Planning Minister Dr Situmbeko Musokotwane, MP, assures that the Government will fully disburse the outstanding balances before 2023 ends,” the statement read in part. “Going into 2024, the unspent 2023 CDF balances will be retained by respective constituencies to enable implementation of all targeted CDF projects.”
Nkulukusa stated that from next year, the allocation to higher education student loan will be increased to ensure more vulnerable children benefit from loans and meal allowances following the K115.1 million released in October, 2023.
He stated that during the period under review, K1 billion was disbursed for the Farmer Input Support Programme (FISP), saying the agriculture sector was key and required more sustained support to increase productivity and enhance value addition, adding that before year end, the government will launch the Comprehensive Agriculture Support Programme (CASP) which will encompass extension service support, access to finance, irrigation, support to value addition and storage and logistics.
The government further disbursed k268 billion towards dismantling arrears owed to suppliers of goods and services, saying the government was aware of the challenges associated with access to affordable finance by Micro, Small and Medium enterprises, some of whom are suppliers of goods and services.
