TI-Z expects government to reduce PAYE by 2.5% in 2024
• This should be done in a bid to alleviate the impact of the rising cost of living on the entire workforce.• TI-Z expects government
Category : Economy
Zambia’s annual inflation soars to 12%, as country posts trade surplus
• On average, prices of goods and services increased by 12.0 percent between September 2022 and September 2023.• This was mainly due to price movements
Economist projects increase in inflation rate
• Inflation rate will go up although maybe not this month but next month.• Major drivers of inflation will be the exchange rate and increase
Lowering MPR to 6.5 % can trigger higher inflation – Economist
• The call for the Central Bank to drop the MPR may be justifiable in certain circumstances.• However, the country is in a very difficult
Senior Economist attributes Kwacha depreciation to fuel, fertilizer imports
• The country has more demand for dollars to support importation of various goods and services like fertilizer and fuel.• Zambia is not producing enough
Cabinet approves 2024 budget, declaration of critical minerals
• 2024 Estimates of Revenue and Expenditure have been prepared in accordance with the Budget Policy Concept Paper.• Cabinet also approved the declaration of critical
Mine Suppliers call on government to declare Sugilite, gold as strategic reserves
• Declaring certain minerals as strategic reserves will mean that they cannot be sold anyhow.• Government will be having some strategic reserves from the exchange
Cost of living in Lusaka reduces by K34 in August
• The cost of living for a family of five for August 2023 in Lusaka stood at K9, 267.34.• This is in comparison to the
Vedanta’s return to KCM expected to boost Zambia’s trade balance
• Zambia’s imports rose by 23.1 percent to US$5.2 billion from US$4.2 billion in the first half of 2023.• Exports declined by 11.6 percent to
CTPD urges ZRA to expand its reach into informal sector
• Tax revenue mobilization is of paramount importance to Zambia’s budget financing.• The first half of 2023 has been characterized by unmet tax revenue targets.•