World Bank sees Zambia 2018 economic growth below 4 percent

A man displays a 50,000 Kwacha note in Lusaka January 23, 2012. Zambia will rebase the kwacha currency by lopping off three zeros Finance Minister Alexander Chikwanda said on Monday. Government would also raise commercial banks' capital requirements to make them more resilient to economic shocks, he told a media briefing. REUTERS/Mackson Wasamunu (ZAMBIA - Tags: BUSINESS) - RTR2WQFI

LUSAKA (Reuters) – The World Bank expects Zambia’s economy to grow less that 4 percent this year, lower than an April projection of 4.1 percent, it said on Thursday.

“Economic growth in 2018 is projected to be below 4 percent reflecting the poor agricultural harvest, lower copper prices and fiscal debt challenges that are crowding out private sector growth,” the World Bank said in a report.

The World Bank said in April that Zambia’s economy is forecast to grow 4.1 percent in 2018 and 4.5 percent next year, lower than previous projections by the lender, because of the expected impact of poor rains.

Reporting by Chris Mfula; Editing by James Macharia

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