• Central Government External Debt rose to US$13.96 billion as at the end of December 2022
• This is attributed increase to disbursements from multilateral creditors.
• Non tax revenue amounted to K3.73 billion against the target of K3.83 billion

Minister of Finance and National Planning has disclosed that Central Government External Debt rose to US$13.96 billion as at the end of December 2022, from US$13.04 billion at the end of September 2022.
Speaking during the 2023 First Quarter Budget Performance Symposium in Lusaka, Dr. Situmbeko Musokotwane attributed the increase to disbursements from multilateral creditors.
Dr. Musokotwane also revealed that the total revenue and grants collected during the period under review amounted to K25.4 billion representing, which is 0.7 percent lower than the targeted revenue and grants, owing to under performance in income and tax collections.
He said non-tax revenue amounted to K3.73 billion against the target of K3.83 billion, adding that in terms of expenditure; Government spent K38.5 billion slightly above the targeted of K37.8 billion.
“During our January engagement, I presented the debt position as at end-September 2022, with the central Government external debt estimated at US$13.04 billion. At the close of the year, central Government external debt amounted to US $13.96 billion from US$13.04 billion in 2022,” Dr. Musokotwane said.
“The increase was largely due to disbursements from multilateral creditors. On the domestic debt front, Zambia’s stock of Government Securities increased slightly from K210 billion 11 at end 2022 to K211.7 billion as at end-March 2023. When measured in dollar terms, the domestic debt decreased from $11.6 billion to $9.9 billion on account of the Kwacha depreciation. In the interest of transparency, the Ministry of Finance and National Planning continues to publish this information in our quarterly debt bulletins, which can be accessed on the Ministerial website,” he added.
Meanwhile, Dr. Musokotwane disclosed that the Zambia is now totally self-sufficient with basal fertilizer and will soon start exporting the surplus.
“The implementation plans for the farm blocks are nearly ready. The money to establish the blocks is there. Within a few months, work will start. In parallel, the marketing of the farm blocks starts soon. The Government will also soon finalize formulation of the Comprehensive Agriculture Transformation Programme (CATP). The National Crop Diversification Strategy is also being developed to enhance production and productivity of a diverse range of agricultural commodities and products,” he stated.