Musokotwane explains how Govt has spent K22.7bn
By Ruth Chayinda
Finance Minister SITUMBEKO MUSOKOTWANE says the recent financial support and approvals given to Zambia by the International Monetary Fund and World Bank Group are a reflection of the trust that the government has built with its development partners.
Dr. MUSOKOTWANE says the extraordinary support Zambia is receiving is not by accident but due to the relationship the government has nurtured with its partners.
He says it is for this reason that the Government will continue on the path of a good governance environment while it sustains regular engagements with stakeholders in reviewing the reform progress.
The Minister was reflecting on the 22.7 billion Kwacha released for developmental Programmes and Public Service delivery in June 2024.
Of the 22.7 billion, 13 .8 billion Kwacha was spent on servicing both domestic and external debt, while 4 billion Kwacha was channeled to public service wages.
The treasury also channeled 3.5 billion kwacha to transfers, subsidies and social benefits while 1.1 billion was spent on various programs and general operations.
The remaining 288.6 million Kwacha was channeled to capital expenditure for ongoing infrastructure works.
