Minister of finance has revised upwards the 2026/26 National budget from K8.077 trillion kwacha to 8.58 trillion kwacha.
Mwanamvekha said this during the presentation of the mid-year budget review statement in parliament where he said that office of president and state house used 100 percent of the 2025 to 2026 national budget
Mwanamveka added that office of vice president used 94 percent of its budget and the budget deficit has also risen to 3 trillion kwacha
“The public debt is now at 21.6 trillion which is 86 percent of the country’s gross domestic product GDP, an increase from 4.1 trillion in 2019,” says Mwanamveka
He said total revenue and grants have been projected at 3.078 trillion kwacha for the second half of which 2.420 trillion will be sourced domestically while 657.5 billion will be grants.
The finance minister said first half of the budget underperformed due to over expenditure.
Among others in the second midyear budget, government has allocated 129.6 billion for FISP, 20 billion for maize purchase and 91.7 for CDF.
About The Author
