World Bank cuts Zambia’s 2019 GDP growth forecast

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LUSAKA (Reuters) – The World Bank sees Zambia’s economic growth slowing in 2019, to 3.3 percent from 3.5 percent seen last year, as the southern African nation’s growing debt pile and weakening currency put pressure on government revenue, the lender said on Monday.

“Spending remains quite elevated and there is a struggle to raise revenue in order in order to be able to finance expenditure,” World Bank Senior Economist Gerard Kambou said during a video conference with journalists.

Reporting by Chris Mfula; Editing by Alison Williams

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