Parliament passes revised budget

Parliament passes revised budget

Members of Parliament on Monday passed the 2022-2023 mid-year budget which has increased slightly from 2.839 to 2.852 trillion kwacha.

Speaking in parliament, Minister of Finance Sosten Gwengwe said although the budget shows an increase of 12 billion kwacha, it has actually shrieked considering issues of devaluation and inflation.

Gwengwe also asked government ministries, departments and agencies to spend within their limits and not go beyond what has been allocated.

Reacting to the development, Economist Dr Betchani Tchereni says the upward adjustment of the budget was expected considering inflation rate and effects of the devaluation.

Dr Tchereni also concurred with Gwengwe on the need for government agencies to spend according to what has been allocated in the budget.

“we have seen that it has gone up with a very very small magine, it is a bit worrisome that some of the operations may not undertaken because inflation is there. Inflation does not hit house holds only it also hits government”, said Tchereni.

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