K5.2 billion budget allocation released

A TOTAL of K5.2 billion was released by the Treasury last month out of which K1.6 billion was for personal emoluments for public service workers, K1.8 billion went to debt servicing , and K1 billion was allocated for grants while K0.8 billion went to other programmes.

Minister of Finance, Felix Mutati said by sharing the financial status the ministry hoped to have citizens participating in economic transformation programmes by taking greater interest in monitoring government-financed projects.

According to a press statement made available to the Daily Nation, by the head of public relations, Chileshe Kandeta, the minister said the report will promote economic growth.

“The successes which the economy is scoring through fiscal consolidation is not a twist of luck but a result of articulate reforms and the toils of citizens,” Mr Mutati said.

“On a daily basis, citizens look for opportunities created by the government for business development. Therefore, through citizen induced project monitoring, the government will be able to implement projects effectively and ensure that value for money prevails in state financed projects,” he said.

And the minister disclosed that K35 million was released towards the fight against the cholera outbreak in January only.

He explained that of the K1 billion grant amount to various institutions, K233.2 million went to the Ministry of Agriculture for the Farmer Input Support Programme (FISP) while the Food Reserve Agency received K172 million as final instalment for clearing arrears accumulated in the 2016/17 marketing season.

Mr. Mutati also said the Treasury released K89.9 million for the Local Government Equalisation Fund to fiscally empower local authorities and ensure equitable distribution of resources.

The minister also said of the K1.8 billion released towards debt service, K629 million went towards servicing the domestic debt and K1.2 billion went towards servicing the foreign debt.