IT’S A K180 BILLION BUDGET- MUSOKOTWANE
September 29, 2023
LUSAKA- MINISTER of Finance and National Planning Situmbeko Musokotwane has
proposed to spend K177.9 billion in the 2024 National budget whose
theme is unlocking Economic Potential of the country.
Dr Musokotwane said through this year’s budget, Government makes a
commitment to provide the policy framework, resources and incentives
to unlock the economic potential of our country.
He said the budget is a clear demonstration of the commitment to
unlocking the economy, uplifting the livelihoods of the people and
providing a conducive
Dr Musokotwane was speaking when he presented the 2024 National budget
at Parliament buiding this evening.
The Minister has also announced an increase of K4.8 billion to the
Constituency Development Fund (CDF) translating into K30.6 million for
each constituency.
Dr Musokotwane said the increase is meant to ensure that more
resources are directly provided to communities for local development,
including basic services such as clean and safe water, maternity
wings, and school desks,
“I propose to increase the allocation to CDF to K4.8 billion.
With this increase, each constituency will receive K30.6 million from the
current K28.3 million,” he said.
And Dr Musokotwane said that to promote entrepreneurship among
people,Government has proposed to allocate K391.9 million to the
Citizens Economic Empowerment Commission (CEEC).
He said this is in addition to other empowerment funds under CDF,
Gender Division, and the Ministries of Community Development and
Social Services, and Youth, Sport and Arts.
And to improve air transport and to ensure that Zambia becomes a
regional hub for air connectivity, Government has proposed to spend
K700.7 million on Provincial Aerodromes.
He also said that the allocation is earmarked for the rehabilitation
and upgrade of Mansa, Mbala, Mongu, and Solwezi Airports and the
development of Chinsali, Choma, and Kasaba Bay Airports.
Government has also allocated K769.5 million to the tourism sector for
the development of tourism infrastructure, marketing, wildlife
management, and development of tourism products, among others.
Meanwhile Dr Musokotwane said to improve access to affordable loans
for public servants, Government has allocated K150.0 million to the Public Service Microfinance Company.
“The amount will go towards the recapitalization of the institution to provide affordable loans and other innovative financial solutions to public service workers across the country,” he said.
The minister has also proposed to spend K1.9 billion on grants to
schools in line with the free education policy.and in addition,
government propose to increase the allocation to the School Feeding
Programme to K111.7 million from K39.4 million to increase coverage
and improve the quality of meals.
“This provision is very important for next year, in particular, and is
part of the response measure to the escalated food prices. 200, to
continue with the program of completing abandoned secondary schools, I
propose to spend K338.3 million,” he said.
He has also proposed an allocation of K70.0 million for equipping
TEVET training centres with modern equipment to enable them provide
quality and relevant vocational skills.