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Cabinet directs MoF to publish 2017 Annual Economic Report

Cabinet has directed the Minister of Finance Margaret Mwanakatwe to publish and disseminate the 2017 Annual Economic Report to the public.

The key highlights in the 2017 Economic Report include an indication that the global economy continued to recover in 2017, with output estimated at 3.7 percent from 3.2 percent in 2016; preliminary estimates indicate that the domestic economy grew by 4.1 percent in 2017, compared to 3.8 percent in 2016.
Chief Government Spokesperson Dora Siliya says other highlights are a total revenue and grants amounted to K43.03 billion against a budget projection of K45.34 billion; in line with the lower revenues, expenditures were constrained in 2017 and were below target by 6.3 percent.

She adds that preliminary data indicates that the external debt stock at the end of December 2017 increased by 25.8 percent to US$8,738.95 million from US$6,947.1 million in 2016.

Ms Siliya says the report further highlights policy issues that require attention such as double digit growth is imperative to create jobs and counter the high poverty levels.

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