Zambia to Almost Halve Budget Gap Despite Surge in Spending
- Government to boost expenditure by 14% to 53 billion kwacha
- Economy facing falling copper revenue, worst power crisis
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Zambia’s government plans to almost halve the budget deficit next year, a target it may struggle to meet as it boosts spending by 14 percent.
Expenditure is set to increase to 53.1 billion kwacha ($4.5 billion) next year, up from 46.7 billion kwacha projected in 2015, Finance Minister Alexander Chikwanda told lawmakers in the capital, Lusaka, on Friday. The spending target is higher than the 48.8 billion kwacha estimated by the Finance Ministry in August.