Zambia To Borrow More Money -Chikwanda Gets The Go Ahead From Parliament

Zambia To Borrow More Money -Chikwanda Gets The Go Ahead From Parliament.

Finance Minister Alexander Chikwanda yesterday informed Parliament that the fundamentals of the Zambian Economy were still strong and is not on the verge of collapse.The Finance Minister earlier informed the house that supplementary funds were necessary to finance projects in the 2015 fiscal year.The motion was put to a vote and out of 115 Member’s of the house only 41 opposed while 74 voted in favour. It was decided that government will borrow up to K60 Billion.

The finance Minister said the planned borrowing would give the state a strong economic outlook with developments in the global and domestic economies.

 

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