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TitleCreating and wasting fiscal space: Zambian fiscal performance 2002–2011
AuthorWhitworth, Alan
SubjectFiscal management
Date of Publication2012
PublisherZambia Institute for Policy Analysis and Research (ZIPAR)
Number of Pages4 pages
Geographical CoverageZambia
KeywordsEconomic Growth, Fiscal Discipline, Fiscal Deficits, Debt and Interest
AbstractFollowing three decades of economic mismanagement and decline, Zambia has experienced sustained economic growth since the turn of the century. The combination of rapid growth, reduced public expenditure, increased mining taxation and debt relief helped the Government establish fiscal discipline and reduce fiscal deficits and debt to sustainable levels. As a result, fiscal space has grown significantly and Zambia is no longer aid dependent. In addition, lower domestic public borrowing has helped cut inflation and interest rates and has reduced crowding out of private sector borrowing. These developments would normally be expected to lead to significant poverty reduction. However, by 2010 there had been little improvement in poverty. This is partly due to fiscal space being wasted on ill-­‐designed agriculture policies and uneconomic road paving projects of little benefit to the poor.
Copyright HolderZambia Institute for Policy Analysis and Research (ZIPAR)
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Filesize907009 MB
File FormatPDF
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