Despite austerity measures adopted in June 2018, Zambia’s 2018 budget deficit was 7.5% of GDP, above the 7% forecasted, finance minister Margaret Mwanakatwe (photo) announced on May 1, 2019.  

The finance minister also indicated that new measures would be initiated to reduce the 2019 budget deficit to 6.5% of GDP.

Weeks ago, the country’s debt was said to have risen by about 15% to reach $10.05 billion at end 2018. The country seeking a support program from the IMF, which rejected its support request in February 2018, is trying to reduce the burden of its debt and reorganize its public finance.

Moutiou Adjibi Nourou