Parliament has authorised the Treasury to receive two grants worth K15.02 billion from the International Development Association (IDA) of the World Bank and the African Development Fund (ADF). During the sitting on Wednesday, members of Parliament (MPs) approved a grant worth 11 200 special drawing rights, an equivalent of $15 million (about K15 billion) to
Minister of Finance and Economic Affairs Sosten Gwengwe could not hide his excitement yesterday after Parliament passed the K3.78 trillion 2023/24 National Budget recovery after Tropical Cyclone Freddy’s destruction. re-designed to accommodate When First Deputy Speaker of Parliament Madalitso Kazombo, sitting as chairperson of the Committee of Supply, announced the approval of the fiscal plan
On paper, the Tonse Alliance administration claims to have built its next fiscal plan on sacrifice, but the borrowing-dependent hikes to votes such as State Residences, Foreign Affairs and security agencies tell a different story. The increases in the budget currently under scrutiny in Parliament come even as allocations as percentages of total spending to
Opposition Democratic Progressive Party (DPP) says the K3.87 trillion 2023/24 proposed National Budget is unrealistic as it has failed to address root causes of the country’s economic crisis. Presenting the party’s response to the 2023/24 National Budget in Parliament yesterday, DPP spokesperson on Finance Ralph Jooma said the budget has failed to address intermittent power