Zambia approves a comprehensive economic plan to enhance growth and reduce inflation

2 days ago

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Lusaka on July 20 / WAM / The Zambia government approved a comprehensive economic plan for the years 2026 – 2028, aimed at achieving annual growth of no less than 6% and reducing the inflation rate to below 10%, as part of its endeavor to enhance financial stability and motivate the economy.

According to the African News Agency (APA News), the plan includes specific financial goals that include increasing local revenues to exceed 22% of GDP, and setting a roof for local borrowing at 1.7%, in addition to maintaining foreign exchange reserves covering at least three months.

To achieve these goals, the government has approved major structural reforms that include a comprehensive review of incentives and tax exemptions, and to accelerate the reform of the property tax system to raise the efficiency of collection and reduce evasion.

The government emphasized that these measures will take place in parallel with extensive consultations with the stakeholders to ensure the smooth implementation of the new policies.

– Khal –