LUSAKA, Sept 25 (Reuters) – Zambia is aiming to reduce its
fiscal deficit to 9.3% of gross domestic product in 2021 from
the 11.7% projected in 2020, Finance Minister Bwalya Ngâ€™andu
said in a budget speech delivered on Friday.
“Due to the fall in revenues and grants and the increase in
spending, the fiscal deficit, on a cash basis, is expected to
rise to 11.7% of GDP by the end of 2020 against the target of
5.5%,” Ng’andu said in parliament.
(Reporting by Chris Mfula; Editing by Emma Rumney)
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