Zambia’s economy set for growthBy BUUMBA CHIMBULUTHE Zambian economy is set for moderate growth this year driven by a robust agriculture production and high copper prices after exiting recession in the first quarter of 2021, according to a latest Fitch Solutions report on Zambia Country Risk.Fitch Solutions has forecast real Gross Domestic Product (GDP) growth of 2.4 percent in Zambia in 2021, following a modest expansion of 0.7 percent year on year in the first quarter of 2021.According to Fitch, real GDP growth in Zambia would be relatively tepid over the next 10 years, averaging 3.2 percent annually from 2021 to 2030, compared to 4.9 percent between 2010 and 2019.Fitch has retained its forecast of 2.4 percent growth in 2021, below the country’s 2010 to 2019 average of 4.9 percent.The report has indicated that Fitch Solutions expected that growth would accelerate further to 2.8 percent in 2022, but remain below trend.“We at Fitch Solutions expect […]
Zambia’s economy set for growth
