Economy predicted to grow by 6% in 2025

During the Mid-year Budget and Economic Performance Review in Lusaka, Situmbeko Musokotwane, the Minister for Finance and National Planning has projected that Zambia’s economy will grow by a minimum of 6% in 2024.

He has attributed the growth to the multiple government measures implemented to foster economic stability. He also noted a hopeful vision into 2025 based on an

expectation of favourable rainfall to help recover the agriculture and energy sectors.

Whilst the country’s economy still faces challenges such as price volatility and supply chain interruption, the ministry has said it will continue to improve enforcement measures aimed at increasing weaker areas such as tax compliance.

The Zambia Revenue Authority (ZRA) was represented by its Commissioner General Dingani Banda, who emphasised the authority’s ongoing efforts in strengthening tax revenue collection.