Zambia projects 3.3% GDP growth in 2021, targets 3.5 GDP growth this year
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- 08 Feb 2022
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The Zambian government has projected a modest 3.5 percent rise in its Gross Domestic Product (GDP) for 2022, a small rise from the 3.3 expected to have been attained last year.
This is contained in the 2022-2024 Medium Term Budget Plan released by the Ministry of Finance.
By 2024, the country’s GDP is expected to rise to 4.4 percent following strategic interventions in the agriculture, tourism, mining, manufacturing, energy, and transport sectors.
It said the economic outlook for 2022 and the medium term is more positive as the pandemic wanes although there are challenges of slow growth, high inflation, and high debt levels exacerbated by the after-effects of the Covid- 19 Pandemic.
“The macroeconomic objectives over the medium term will be aimed at addressing these challenges in order to restore macroeconomic stability, attain fiscal and debt sustainability, restore economic growth and improve human development,” the paper reads.
The 3.3 percent projected growth in 2021 was due to favourable performance in the agriculture, energy, construction, and Information and Communication Technology sectors, based on performance in the first three quarters of the year. Read More…
