ECONOMY EXPRESS - TAX

The International Monetary Fund (IMF) has reduced its projection for Zambia’s economic growth in 2016 to 3%, down from an April projection of 3.4%, the lowest since 1999. Growth will increase to 4% next year, according to the IMF. The World Bank has forecast a growth rate of 2.9% for Zambia in 2016. However, Zambia is not alone, Economic growth in Sub-Saharan Africa in 2016 is projected to drop to 1.4%, the lowest level in more than 20 years.