First PF government budget set for Friday 11, November

Zambia’s new government will deliver its first budget on November 11 after a delay of several weeks due to the September 20 election victory of long-term opposition leader Michael Sata, a senior official said on Thursday.

Secretary to the Treasury Fredson Yumba told Reuters the budget was “definitely set for next week, Friday 11th November”.

The budget will be particularly closely watched this year for signs of Sata trying to squeeze more revenues out of the mining sector in Africa’s biggest copper producer and extend the benefits of a decade of strong economic growth.

Despite Sata’s pre-election pledges and sometimes vitriolic criticism of Chinese mining investors, analysts expect few radical changes in minerals and investment policy for fearing of derailing the backbone of the southern African country’s economy.

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