Musokotwane to Present Realigned Drought Budget

Minister of Finance Situmbeko Musokotwane will present the realigned budget to Parliament, necessitated by the drought, for approval in the next session.

In a statement released by the Office of the Secretary to the Treasury, Musokotwane affirmed that the Ministry will release funds in a timely manner. In the interim period until the realigned budget is approved, the government will continue to fund key developmental initiatives using the current budget.

He revealed that in the month of April 2024, the Ministry of Finance and National Planning assigned 15.2 billion Kwacha to public service delivery. Areas awarded funding were: the Public Service Pension Fund; the Social Cash Transfer Programme; funding for operational delivery in hospitals; Local Government Equalization Fund, and the Farmer Input Support Programme.

The devastating effects of Zambia’s drought has unsurprisingly taken a toll on prioritised areas for public spending. In his 2024 Budget Speech to the National Assembly, Musokotwane set out 1.5 billion Kwacha for “environmental protection” and to help “build resilience against the effects of climate change.” The Treasury has asserted that any setbacks faced will not deter the Treasury in ensuring the credibility of the budget is sustained.

Secretary to the Treasury Felix Nkulukusa also commented on the state of income inequality and extreme poverty in Zambia whilst giving a public lecture Copperbelt University in Kitwe. During the lecture he referred to the Zambia Statistics Agency’s 2022 poverty assessments report which place poverty levels at a worrying 60 per cent.

Alongside the promise of a realigned budget, Musokotwane also addressed concerns about the abuse of public funds. He warned that those caught abusing public money will face a maximum punishment from the Courts, with sentences delivered swiftly after conviction.