The debt pile had pierced the $10 billion level after jumping from $8.74 billion at the end of 2017. Mwanakatwe said the loans approved last year covered infrastructure, energy, agriculture, health, education and defence. SEE ALSO :How pile-up involving Botswana, Zambia ambassadors happenedThe 25 loans had been in the pipeline from 2016 to 2017 but only reached financial closure in the first and second quarters of last year, she said. Zambia’s 2018 fiscal deficit stood at 7.5 per cent of gross domestic product (GDP), higher than an earlier government projection of around seven per cent. Register to advertise your products & services on our classifieds website Digger.co.ke and enjoy one month subscription free of charge and 3 free ads on the Standard newspaper.

Source: Standard Digital May 11, 2019 21:05 UTC