Zambia forecasts lower growth, larger deficit as copper earnings shrink

Zambia expects slower economic growth and a bigger fiscal deficit this year as weak global demand for copper hits exports, documents released by the Ministry of Finance on Sunday show. "In the domestic economy, real GDP growth is projected at 5.0 percent in 2015 down from the projected target of 7.0 percent," Treasury secretary Fredson Yamba said in a statement on the proposed 2016 to 2018 medium term expenditure framework. Zambia, which aims for gross domestic product (GDP) growth of 6 percent,