Browsing: Zambia’s Economy

Zambia’s economy is expected to grow by 3 per cent, according to nation’s President Edgar Lungu who said on Thursday that, the nation’s economic growth will be slightly off the previous forecast of 3.2 per cent.

According to Reuters, President Lungu revealed the growth projection when he was meeting diplomats, and commented on the fiscal deficit which was expected to shrink from 6.5 per cent in 2019 to 5.5 per cent in 2020, while inflation would remain within the range of 6 to 8 per cent.

However, in October 2019, Bloomberg reported that Zambia’s inflation rate remained at a three year high in October and economic growth slowed, complicating the central bank’s task.

Further, annual consumer inflation accelerated to 10.7 per cent from 10.5 per cent in September 2019, whereby Zambia Statistics Agency noted to be the fastest rate of price growth since October 2016.

The economy of Africa’s second-biggest …