Minister of Finance Felix Mutati says Zambia’s debt has increased by about US$10 billion dollars between December 2016 and May 2017.

The minister said this during his state of the economy address in the National Assembly yesterday.

“Mr Speaker, Zambia’s external debt stock as at the end of May 2017 increased to US $ 17.2 billion from US $ 6.9 billion in December 2016. The increase on stock was on account of new disbursements. The domestic debt stock was 38.6 billion in May 2017 compared to 33 billion in December 2016.”

Listen to Finance minister Felix Mutati’s full speech: