By BUUMBA CHIMBULUZAMBIA’S annual Gross Domestic Product (GDP) growth accelerated to 8.1 percent in the second quarter of this year, the highest in more than a decade and a clear signal that Covid-19 induced economic pains are almost over.This comes after Zambia recorded a 0.5 percent growth in the first quarter of 2021.With an exception of the mining sector whose production shrunk 7.9 percent, all economic sectors registered positive growth for the first time since the first quarter of 2021.This is contained in a paper called “Zambia in Record GDP Growth in Q2 2021: Is This a Sign That Pandemic Woes Are Over?” done by Gerald Soko and Dr Patrick Chileshe of Zanaco bank.The paper attributed growth to the strong external sector performance was as a key driver of economic growth in the second quarter of 2021 despite copper production and volume of exports declining.“With prices of copper soaring on the international market, Zambia’s exports […]
GDP rises to 8.1 %
