Economics
Charts That Show The New Zambian Finance Chief’s Budget Dilemma
- Country faces rising debt and falling dollar reserves
- Ng’andu to present first budget after his July appointment
The Heroes National Stadium in Lusaka, Zambia.
Photographer: Waldo Swiegers/Bloomberg
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Zambian Finance Minister Bwalya Ng’andu’s job when presenting his maiden budget to lawmakers on Friday should be simple: he only has to show the plan for 10% of the government’s spend next year.
That’s because about 90% is already tied up with wages and paying debts, according to President Edgar Lungu. The hard part is figuring out how to spread the meager resources, while at the same time trying to raise revenues from the key copper mining sector without choking it.