IMF sharply cuts Zambia’s GDP growth target for next year, sees higher inflation above 10%

THE International Monetary Fund has projected that Zambia’s economic growth will fall to 2.9 percent next year from the 3.1 targeted for this year.
In its annual World Economic Report released on Tuesday at the ongoing Springs Meeting in Washington D.C, the Fund also see higher inflation above 10 percent by end of 2019.
It projects that inflation will jump to 12.0 percent in 2020 after closing at 10.7 this year.
The Zambian delegation is led by Finance Minister Margaret Mwanakatwe. Other members of delegation include the Secretary to the Treasury Fredson Yamba, Deputy Secretary to the Cabinet [Finance and Economic Development] Christopher Mvunga, and Bank of Zambia Governor Dr. Denny Kalyalya. The others are Ministry of Development Planning Permanent Secretary Chola Chabala, Ministry of Finance Permanent Secretary for Economic Management and Finance Mukuli Chikuba, Zambia Revenue Authority Commissioner General Kingsley Chanda, and Zambia Integrated Forestry Landscape Project Coordinator, Dr. Tasila Banda.

(Source: Lusaka Times)

Post Views:
80

News Source: Mwebantu