UPDATE ON JULY 2024 BUDGET RELEASES
In July 2024, the Ministry of Finance and National Planning released K16.8 billion to finance developmental programmes and general public service delivery. Of the amount, K4.1 billion went to the public service wage bill, K4.3 billion was spent on debt service (domestic and external) and arrears, and K5.6 billion was released for transfers, subsidies and social benefits.
We also released K1.8 billion for the implementation of various Government programmes and general operations, while K968.1 million was spent on capital expenditure.
Debt and Other Liabilities: In line with Government’s commitment to reducing its indebtedness, a total sum of K4.3 billion was released. Of this amount, K3.1 billion was released towards domestic debt service, K321.1 million was released for external debt service while K883.8 million was used to dismantle arrears.
Transfers and Subsidies: The Treasury released a total of K5.6 billion for transfers and subsidies. Notable expenditure items included: K494.4 million for Grants to Schools to support free education; K358.9 million for the operations of hospitals and Grant Aided Institutions (GAIs) in government ministries; K241.5 million to the Local Government Equalization Fund; K209.1 million as a grant to ZRA to support operations and resource mobilisation; K145.4 million for universities operations and students’ loans and scholarships; and, K100 million for the Food Security Pack.
Furthermore, a total of K2.4 billion was released for the Farmer Input Support Programme (FISP), while K1.7 billion was released to the Food Reserve Agency (FRA).
General Operations: Government released K1.8 billion to facilitate implementation of programmes and other general operations under various government institutions. Notable items included: K300 million for procurement of drugs and medicals supplies; K111.9 million for various donor funded programmes supported by cooperating partners; and, K60.3 million for skills development levy.
Capital Expenditure: Government released a sum of K968.1 million towards capital expenditure. Of this amount, K381 million was for road infrastructure, K345 million for medical equipment and infrastructure, K122.5 million for school infrastructure projects and K118.6 million for infrastructure projects under various Ministries, Provinces and Agencies (MPAs).
Wage Bill: Government spent a total of K4.1 billion on costs relating to the Public Service Wage Bill (Personal Emoluments) for various public service workers, including health, teaching and overseas allowances for Zambian diplomats in missions abroad.
MFNP