Time for Austerity?

With Zambia’s growing debt obligations making headlines in 2018, it is not surprising that the central theme in this year’s budget is how to contain this debt.


In her first speech as Minister of Finance, Hon Margaret Mwanakatwe (MP) reiterated Government’s intention to introduce austerity measures first announced by the President, His Excellency Edgar Chagwa Lungu, in June. She acknowledged that Zambia needs to reduce its fiscal deficit and maintain a sustainable debt position if an increase in private sector development and poverty reduction are to be achieved. 

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