Zambia exempts import tariffs on machinery and components for 5 years

According to Zambia's 2006 fiscal budget, the government will continue to implement tight monetary policy and prudent fiscal policy, and continue to maintain a flexible exchange rate formation system. Among them, from February 5th, the import tariff on polyester and cotton textiles increased from 15% to 25%. At the same time, import tariffs on machinery, parts and raw materials such as sewing threads related to the textile and clothing industry are exempted for a period of five years.
The main objectives of Zambia's macro economy in 2006 are: real GDP growth rate of 6%; year-end inflation rate down to 10%; domestic borrowing not exceeding 1.6% of GDP; and increasing international reserves to cover at least 1.5 months of import use demand. In general, Zambia's economy will continue to maintain healthy growth this year in an environment of steady growth of the world economy. It is expected that its macro economy will rise steadily and it is expected to achieve its annual economic goals.
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