By BUUMBA CHIMBULUZAMBIA’S total revenue and grants between January and May 2021 amounted to K40.1 billion, representing a 43 percent above projection.Following this development, the Ministry of Finance spent K10.1 billion on debt servicing for both external and domestic while supporting sectors of the economy.The country’s total revenue and grants for the period under review indicates an impressive 43 percent above projection, says Secretary to the Treasury, Fredson Yamba.Mr Yamba announced that Government’s performance rate was above target with what was approved by Parliament for the 2021 budget.He explained that tax revenue in the period under review amounted to K26.5 billion, representing a performance rate above target that was approved by Parliament for the 2021 budget.Mr Yamba attributed the development to good performance by income tax, Value Added Tax, customs and excise duties, and Insurance Premium.He said this in a statement yesterday when giving an update on the performance of the 2021 national budget.“VAT collection […]
ZAMBIA EARNS MORE THAN PROJECTED INCOME
