Zambia’s Economy Outperforms Expectations Amid Strong Growth

Zambia’s economy exceeded growth forecasts in 2024, outperforming projections from both the government and the International Monetary Fund (IMF). A surge in fourth-quarter output helped push annual economic growth to an estimated 4%, according to preliminary figures from the Zambia Statistics Agency (ZAMSTATS).

Inflation also showed signs of easing, with March 2025 figures dropping to 16.5%, down from 16.8% the previous month. This decline suggests progress in stabilising prices amid ongoing economic reforms.

In Washington, Finance Minister Situmbeko Musokotwane met with IMF Managing Director Kristalina Georgieva to discuss new reform strategies aimed at delivering tangible benefits to Zambians. Musokotwane reiterated the government’s commitment to economic growth, debt sustainability, and improving livelihoods. He also emphasised the significance of an expected bumper harvest, which is set to bolster food security and increase farmers’ incomes.

As Zambia continues to navigate economic challenges, these developments reflect a concerted effort to strengthen the nation’s financial stability while ensuring long-term prosperity for its citizens.