Economy

Ministry of Finance Shares Budgetary Expenditure for Oct

2018 OCTOBER BUDGET RELEASES

Mon. 19 Nov. 2018

Overview – During the month of October, 2018, the Government released a total of K6.1 billion to finance various operations of the Government.

Expenditure Performance – Out of the amount released, a total of K2.4 billion was released on Personal Emoluments, K1.5 billion on debt service, and K1.1 billion on Grants and other payments while the remainder of K1.1 billion was spent on other key programmes.

Key highlights – Personal Emoluments at K2.4 billion went towards timely payment of salaries to various civil servants including teachers, medical personnel and police officers.

Grants to Universities amounted to K80.1 million, Student Loans and Scholarships amounted to K99.9 million; Grants to schools amounted to K60.8 million; and, to enable implementation of planned activities, the Skills Development Fund was funded K20 million.

K344.9 million was released to Grant Aided Institutions for their operations while various Ministries received K92 million. And to restock drugs and medical supplies in hospitals, the Treasury released K150 million to the Ministry of Health.

K170.3 million (summing to K1.142 billion in 2018) was released towards the Farmer Input Support Programme [FISP] to cater for liquidation of outstanding arrears and implementation of the e-voucher programme for the forthcoming 2018/2019 farming season. The Food Security Pack which also complements the FISP, has received a total of K50 million so far, and the Food Reserve Agency got K23 million (totalling to K211.6 million released in 2018) for procurement of maize and other grains to meet the strategic reserve requirements.

Releases for capital expenditure totalled K233.2 million of which K158.1 million went to the roads sector for completion of some road projects and toll gates, K29.9 million to the Rural Electrification Programme for to increase electrification rates in rural arrears, and K45.1 million to other capital related expenditures.

Another highlight is the K13.7 million which was given to Ministries, Provinces, and Spending Agencies [MPSA’S] for liquidation of outstanding liabilities. The total releases for this exercise stands at K333.2 million in 2018.

The Zambia Revenue Authority received a grant amounting K61.7 million to enable them implement planned activities aimed at enhancing tax collection.

End – The next brief will be issued in the second week of December, 2018.

Issued by:

Ministry of Finance

4 Comments

  1. Chinyama mukuma

    That sounds normal ,now it will depend on his the money will be used by the miniseries.

  2. Pator

    Good move

  3. Joseph Kabinda

    we need development ba PF

  4. Mwale

    Not bad, and we pray that the funds allocated to various ministries and institutions is diligently used for the intended purpose.

Comments are closed.