Zambia upbeat about 2018 economic prospect

0 Comment(s)Print E-mail Xinhua, 02 23, 2018
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‍LUSAKA, Feb. 22 (Xinhua) -- The Zambian government on Thursday said the country's economic performance for 2018 was expected to remain positive supported by a stable macroeconomic environment.

Minister of Finance Margaret Mwanakatwe said this will be anchored on implementation of various policy, structural and legal reforms under a government economic stabilization and growth program.

"Growth is projected to remain positive while inflation is expected to be low and in single-digit, while the fiscal deficit will be maintained within budgeted levels," she said in a statement released by her office.

The Zambian government will step up fiscal reforms to ensure fiscal consolidation is fully attained, she added.

She however noted that uncertainties in weather patterns as well as relatively high lending rates may impact negatively on the country's agricultural activities and electricity generation.

She underscored the need to sustain economic and fiscal governance through maintenance of price stability.

According to her, fiscal and monetary policy coordination will be strengthened and that the government will continue to enhance domestic revenue mobilization and expenditure restraint to attain a 3-percent-of-GDP fiscal deficit in the medium term.

She further said key to expenditure restraint was government's resolve to concentrate on completing ongoing projects.

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