Zambia President Edgar Chagwa Lungu speaks during the 74th Session of the General Assembly at the United Nations headquarters in New York on September 25, 2019. Zambia's $8.03 budget for 2020 targets to tame debts as analysts call for priority spending in agriculture. PHOTO | TIMOTHY A. CLARY | AFP
Zambia finance minister Bwalya Ng’andu has placed bolstering tax-hit copper mines at the enter of broad measures to invigorate the economy which is suffering from a slump in commodity prices and rising debts.
In a Kz106 billion ($8.03 billion) budget read on Friday September 27, Dr Ng'andu abandoned a controversial sales tax on mines in favour of an existing Value Added Tax, which allows companies to claim back money spent on inputs and capital expenditure.
