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First Quarter Budget Performance Was Above Target

Government collected 26.3 Billion Kwacha in revenue and grants in the first Quarter of 2023.

This is above the target of the first quarter by 2.6 percent.

Finance and National Planning Minister Situmbeko Musokotwane says this was largely due to favourable performance in Value Added Tax (VAT)

Dr. Musokotwane has further attributed this, to exceptional revenue collected from ZICTA from the sale of bandwidth spectrum.

He was speaking during the Ministry of Finance Symposium on first quarter budget and economic performance in LUSAKA today.

And Dr. Musokotwane said Government will continue to focus on implementing policies and programmes that will foster economic growth.

He also pledged Government commitment to fiscal discipline, transparency and responsible spending.

And Secretary to the Treasury Felix Nkulukusa said the country might face a challenge if the financing from the International Monetary Fund – IMF- does not come by the end of the third quarter of 2023.


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