Zambia Economic Outlook
October 19, 2021GDP expanded 8.1% year-on-year in Q2 (Q1: +0.5% yoy) on the back of firming output in the construction, and wholesale and retail trade sectors, as well as robust growth in the information and communication sector. On the other hand, output in the mining and quarrying sector contracted at a steeper pace. Turning to Q3, data suggests that momentum picked up at the tail end of the quarter. In September, the private sector PMI returned to expansionary territory for the first time since April, on the back of stronger growth in new business amid improving demand dynamics. Moreover, inflation fell again in September, which, coupled with looser restrictions since July, bodes well for household spending. In other news, the U.S. recently announced an additional USD 11.3 million aid package to support democracy and boost SMEs in the country, following a meeting with President Hichilema.
Zambia Economic GrowthThe economy is forecast to grow at a stronger pace next year. Hichilema’s election should usher in more business-friendly policies and see investor relations improve, while upbeat copper prices should buoy the external sector. Domestic demand will be aided by the vaccine rollout and the lifting of restrictions. However, a sizable debt burden clouds the outlook. FocusEconomics panelists see GDP growing 2.2% in 2022, which is unchanged from last month’s forecast, and 2.7% in 2023.
Zambia Economy Data
5 years of Zambia economic forecasts for more than 30 economic indicators.
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|Bond Yield||33.00||0.0 %||Dec 31|
|Exchange Rate||14.09||0.0 %||Jan 01|
|Stock Market||0.3||0.0 %||Jan 06|
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