Finance Minister Releases K14.4 bn to Fund Public Service in May

Finance Minister Situmbeko Musokotwane released 14.4 billion Kwacha to fund public services over the month of May this year.

Out of this figure, around 1 billion Kwacha was released for transfers, subsidies and social benefits; 1.8 billion was deployed to deliver the implementation of various developmental programmes and general operations.
A statement released to ZNBC News by the Office of the Secretary to Treasury reports that over 300 million Kwacha was also released for capital expenditure.

In addition, 7.3 billion was spent on domestic and external debt, as Zambia closes in on resolving its debt: 4.1 billion was committed to the payment of external debt service, 3.2 billion for domestic service.

The Ministry of Finance and National Planning further committed 3.9 billion Kwacha to the public service wage bill.

Minister Musokotwane says that the treasury will continue to pursue transformational reforms and initiatives guided at attaining value for money in public service delivery.