Subsidy arrears gobble over K800m

GOVERNMENT has spent K809 million on dismantling of electricity and fuel subsidy arrears from January to date.

And Government has urged banks to consider further reductions in the lending rates in response to the lower monetary policy and inflation rates.

Secretary to the Treasury Fredson Yamba said Government’s total expenditure during the period under review amounted to K23.3 billion, and was above target by 3.2 percent.
Mr Yamba said the out-turn was due to higher expenditure outlays on personal emoluments, interest rates, grants, and other payments.
This is according to a mid-year economic review issued in Lusaka by

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