Zambia Economic Outlook
June 21, 2022
Available data suggests economic growth is likely soft in Q2 2022. The private-sector PMI averaged only slightly above the 50.0 mark in April–May, signaling a marginal improvement in business conditions. In May in particular, both output and new orders fell, outweighing increased staffing levels and purchasing activity. That said, declining inflation and elevated prices for copper—the country’s key export—should be providing support. In mid-June, Zambia held talks with creditors over debt restructuring, a necessary pre-requisite to unlock USD 1.4 billion in IMF funding. Around the same time, the Fund’s deputy managing director suggested that a debt restructuring plan could be put to the IMF board by September. Completing debt restructuring and accessing IMF financing would provide an important economic boost.Zambia Economic Growth
This year, GDP growth is seen decelerating slightly from 2021’s strong rebound amid tighter financial conditions. However, more business-friendly policies should lead to increased investment, while elevated copper prices will buoy government coffers. The finalization of debt restructuring talks will be a key factor to watch. FocusEconomics panelists see GDP growing 3.1% in 2022, which is unchanged from last month’s forecast, and 3.1% in 2023.Zambia Economy Data
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Zambia Facts
| Value | Change | Date | |
|---|---|---|---|
| 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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