Zambia: President Lungu takes 50% pay cut

Lungu’s decision demonstrates a ‘commitment to austerity measures’

Zambia’s President Edgar Lungu has taken a 50 percent pay cut as part of his administration’s austerity measures.

According to the country’s Vice President Inonge Wina, Lungu’s decision demonstrates his commitment to the austerity measures, and hopes that all members of the legislature – including opposition members of parliament would follow suit.

Lungu will now earn ZMK216,000 (US$22,018.33) a year.

Zambia is one of the world’s largest producer of copper. The country’s economy which has been negatively impacted by the global drop in the price of commodities is projected to grow by 3.4 percent in the next financial year.

In a bid to jump start the ailing economy, the Lungu administration is working towards diversifying away from commodities, while dealing with rising unemployment.