This memorandum will therefore detail the revenue and expenditure for the second quarter of 2022 in comparison to the 2021 performance during the same period. [...] REVENUE AND EXPENDITURE BUDGET PERFORMANCE FOR THE SECOND QUARTER OF THE 2022 FISCAL YEAR Overview For the second quarter of 2022, total revenue and grants amounted to K30 billion. [...] The underperformance in the second quarter of 2022 was mainly attributed to increased revenue foregone due to tax concessions on imports of fuel and ex-bonding of fuel from TAZAMA bonded warehouse on account of Statutory Instrument number 2 and 3 of 2022. [...] TRANSFERS AND SUBSIDIES • Releases to transfers and other payments amounted to K4.3 billion and were 3% above the target due to higher releases on grants to grant-aided institutions and higher receipts of funds from cooperating partners for the implementation of programmes. [...] In the second quarter of 2022, expenditure was K10.1 billion below the target as compared to the second quarter of 2021 when expenditure was K17.2 billion Kwacha above the target.
- Pages
- 10
- Published in
- Zambia
