Government says decision by US Government to raise interest rates will have an impact on Zambia’s bonds.

Works and Supply Minister Felix Mutati says the decision by the US Federal Reserve to raise interest rates has affected the global market and that Zambia is not spared.

Mr. Mutati says despite Zambia recording some positives such as good performance in the mining, agriculture, fisheries and livestock, construction, manufacturing and stable power supply, 2018 has been a rough year economically.

Mr. Mutati, who is also a former Finance Minister, has acknowledged that these decisions made by the US Government is adding more pressure on the local currency.

He says this is not only affecting Zambia alone, but also other emerging economies.

Mr. Mutati states that there is also need for Zambians to be tax compliant as this will improve domestic revenue collection.

He bemoans that Zambia’s tax compliance levels within the African region is between 55 to 60 percent saying this is not good for Zambia.

He said this in Lusaka this morning during the 2019 National Budget Analysis Breakfast Meeting organized by KPMG.