By BUUMBA CHIMBULUZAMBIA will need more than a widened tax revenue base for the benefits of rising copper prices to trickle down to citizens effectively.Copper prices this week rebounded as investors renewed their buying spree, hoping that supply constraints and buoyant demand would push the market to new peaks.Three-month copper on the London Metal Exchange (LME) gained 1.5 percent to US$10,533 a tonne in official trading after a volatile session the previous day, when it touched a record high before retreating to close in the red.Commenting on this, Economics Association of Zambia (EAZ) National Secretary, Mutisunge Zulu, said a higher copper price meant more in tax proceeds for Government which would help absorb debt obligations.Mr Zulu explained in an interview that more tax proceeds would in turn address narrowing of fiscal deficits.“Not to diffuse the hype for Zambia but for the benefits to trickle down to citizens effectively, the Southern African nation will need more […]
‘RISING COPPER PRICES PANACEA FOR ZAMBIA’
