Debt servicing gets half of January spending

By Staff Reporter


The Ministry of Finance has spent almost half of government’s K5.7 billion January, 2019 spending to service both internal and external debt.

The Zambian debt crisis has continued to swallow huge sums of money while service delivery such as purchase of drugs and medical supplies has only received K50 million said sources from the Ministry.

Ministry of Finance has released K2.5billion to repay debt, 50 times more than the amount going to ensure health facilities have adequate drugs and medical supplies.

An update on budget expenditure from the Ministry of Finance obtained by shows slightly over K360 million has been allocated to the agriculture sector in this current farming season and this includes the implementation of the Farmer Input Support Programme, while K55 million has been given to Food Reserve Agency to pay farmers and ensure food security in the country.

Finance Minister Margaret Mwanakatwe has promised to improve transparency and accountability in public finance management this year, with hopes of eliminating the abuse of public resources in all high spending ministries.