jeff juwana
Moderator
The finance Minister of Zambia noted that the economy of the south African country is like to grow by 6 per cent this year; this is however falling short of the 7 per cent target and the decline in copper prices constrains expansion.
Africa’s top copper producer, Zambia, is feeling the impact of lower copper prices as demand for the metal has been hit by a sluggish global growth.
“This price level for most of our mines is not very good because their costs are higher,” Chikwanda said.
Chikwanda also said Zambia’s budget deficit now stands at 5 percent of GDP, beyond a 4.3 percent target, largely due to delays in scrapping a fuel subsidy and increased pay for government workers.
Africa’s top copper producer, Zambia, is feeling the impact of lower copper prices as demand for the metal has been hit by a sluggish global growth.
“This price level for most of our mines is not very good because their costs are higher,” Chikwanda said.
Chikwanda also said Zambia’s budget deficit now stands at 5 percent of GDP, beyond a 4.3 percent target, largely due to delays in scrapping a fuel subsidy and increased pay for government workers.
