Zambia to Lose $100 Million After Suspending Fuel Taxes Amid Middle East Crisis: Media
17:03 14.04.2026 (Updated: 18:00 14.04.2026)
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Zambia to Lose $100 Million After Suspending Fuel Taxes Amid Middle East Crisis: Media
To cushion citizens from the effects of the Strait of Hormuz closure, Zambia has suspended excise duties on fuel for three months. However, this measure is worsening the country's financial position, Finance Minister Situmbeko Musokotwane told media.
The result: a $100 million revenue loss—money the country urgently needs to meet public demands and deliver essential services, the minister added.
Beyond the financial hit, Musokotwane stressed that one of the most serious consequences is "the sheer availability of the energy commodity" due to fuel supply disruptions.
In response, Zambia's Finance Ministry has already revised the 2026 budget to address global energy shocks, media reported.
The video shows Zambia's VP Mutale Nalumango explaining how the country can respond to global supply uncertainties.
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To cushion citizens from the effects of the Strait of Hormuz closure, Zambia has suspended excise duties on fuel for three months. However, this measure is worsening the country's financial position, Finance Minister Situmbeko Musokotwane told media.
The result: a $100 million revenue loss—money the country urgently needs to meet public demands and deliver essential services, the minister added.
Beyond the financial hit, Musokotwane stressed that one of the most serious consequences is "the sheer availability of the energy commodity" due to fuel supply disruptions.
In response, Zambia's Finance Ministry has already revised the 2026 budget to address global energy shocks, media reported.
The video shows Zambia's VP Mutale Nalumango explaining how the country can respond to global supply uncertainties.
Subscribe to @sputnik_africa
Sputnik Africa | X
