Zambia economy grew by 4 % last year

Zambia’s Economy last year grew by 4 percent showing resilience despite the drought which affected key economic sectors.

Acting Statistician General SHEILA MUDENDA says the preliminary GDP estimates show that this is compared to 5.4 percent GDP growth in 2023.

Ms. MUDENDA attributed the growth to the performance of the information and communication activities followed by Arts, entertainment and recreation among other sectors.

The International Monetary Fund -IMF – initially projected that Zambia’s real GDP growth at 4.8% in 2024, but revised it downwards to 2.3 percent in June.

The IMF further to revised it, to 1.2 percent by the end of the year, citing factors like electricity shortages and sector contractions.

But, Ms MUDENDA says despite the shrinking of electricity supply, the economy showed alot of resilience from the sectors.