Tag Archives: Deficit

Zambia: Zambia’s Credit Rating Cut by Standard and Poor’s

Story from the Open Zambia WebsiteStandard & Poor’s ratings Chart

Zambia’s credit rating was cut by Standard & Poor’s, which warned of a rapidly widening budget gap and said elections may prevent the government from addressing it.

……………Zambia, Africa’s second-biggest copper producer, has been hit by a slide in prices and has scaled back plans to increase taxes on miners, adding to budget strains. The government has signaled it may sell as much as $2 billion of Eurobonds as it seeks to finance the deficit.  Read More

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Zambia: ZESCO is still exporting up to 90 megawatts – Yaluma

Story from the Lusaka Times Website

Government has disclosed that ZESCO is still exporting up to 90 megawatts of electricity despite the deficit that the country is currently experiencing.

Zesco_pylons……….Meanwhile, Chief Government Spokesperson Chishimba Kambwili has taken a swipe at Forum for Democracy and Development -FDD President Edith Nawakwi’s remarks on the electricity deficit.  Read More

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Zambia: Chikwanda says 2015 budget deficit balloons to K20 billion, will borrow more to plug the hole

Story from the Lusaka Times Website
Finance Minister Alexander Chikwanda has disclosed that the 2015 budget deficit has ballooned from a projected K 8.5 billion to a staggering K 20 billion in the first six months of the year.

……….He also revealed that Government has since revised the targeted end year GDP growth rates of at least seven percent to 5.8 percent.
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