Economist Chibamba Kanyama says he expects an increase in the amount of public debt reflected in the 2020 national budget given the rising number of projects that government has contracted, but without ready funds for disbursement. President Edgar Lungu stated during his State of Nation Address that amidst austerity measures, government was implementing actions to manage the debt stock and curbing any further accumulation and save money to dismantle arrears owed to suppliers and contractors. In an interview, Kanyama explained that the increased amount in the country’s debt stock will likely stem from unpaid government projects that had been contracted. Zambia’s external debt stock rose to an unprecedented US $10.23 billion by June 30, 2019, from US $10.18 billion as…...

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