This made it one of the highest among low-income developing countries.
Zambia followed closely with a budget deficit to GDP ratio of 13.9 %. Government in the 2021 Budget and Economic Policy said its fiscal deficit gap between revenue and expenditure to GDP is estimated at 11.7% of GDP.
But the Fund’s April 2021 Fiscal Monitor stated otherwise. It is also projecting a financing gap of 12.6% and 10.4% in 2021 and 2022 respectively.
In 2023, 2024, and 2025, the Bretton Wood institution is forecasting a fiscal deficit of GDP of 9.3%, 9.1% and 8.9%.
All things being equal, the gap between revenue and expenditure will fall to 6.8 percent in the year 2026. Read Full Story
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