Government Allocates K23.1 Billion in December to Bolster Economy and Public Services
The Zambian government disbursed an impressive K23.1 billion in December 2024, signaling its commitment to economic recovery, public service enhancement, and fiscal responsibility. This allocation comes at a critical time as the nation grapples with mounting debt, inflationary pressures, and the need for inclusive growth.
Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, revealed that K3.9 billion of the funds went to public service wages, including allowances for diplomats serving in Zambia's missions abroad. This underscores the government's dedication to supporting its workforce despite tight fiscal conditions.
Debt servicing and arrears took the lion's share of the allocation, with K12.7 billion committed. This reflects the government's focus on maintaining financial credibility with creditors and addressing Zambia's debt obligations, a move crucial for sustaining international confidence and securing future investment.
Social protection programs were not sidelined, as K3.1 billion was channeled to transfers and subsidies. Notably, K1.1 billion was earmarked for the Social Cash Transfer program, providing much-needed relief to vulnerable populations during challenging times.
An additional K2.4 billion was released to fund developmental programs and general operations, while K1 billion was invested in capital expenditure to support infrastructure projects essential for long-term economic growth.
Reviewing the December Budget Expenditure Report, Dr. Musokotwane urged public officials to maximize these funds by implementing programs effectively. He emphasized the need for all sectors to unite in fostering resilience, driving inclusive growth, and improving livelihoods in 2025 and beyond.
“This allocation is not just numbers; it’s a reflection of our priorities and a call to action. Every kwacha spent must translate into meaningful change for Zambians,” Dr. Musokotwane stated.
The December disbursement, detailed in a statement by the Office of the Secretary to the Treasury, highlights the government's balanced approach to addressing pressing fiscal challenges while ensuring the wheels of development keep turning. It sends a strong message of intent as Zambia navigates its path toward economic stability and growth.
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