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Implement fiscal consolidation measures, urges BoZ

BOZ

NANCY MWAPE, Lusaka
THE heavy reliance on domestic financing of the fiscal deficit is likely to continue exerting an upward pressure on interest rates, thereby constraining credit to the private sector and ultimate growth, Bank of Zambia (BoZ) says.
BoZ says there is need to continue implementing fiscal consolidation measures through addressing higher than programmed fiscal deficits, elevated debt and debt service levels, high domestic arrears and liquidity.
“The lowering of the budget deficit will facilitate credit extension to the private sector and reduce yield rates on government securities, thereby leading to lower lending rates generally CLICK TO READ MORE

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