TRYNESS TEMBO, Lusaka
ZAMBIA’S industries witnessed positive trends this year, backed by improved macro-economic fundamentals and business environment.
According to Trading Economics global macro models and analysts’ expectations, the country’s gross domestic product (GDP) is expected to close the year on US$27 billion.
GDP is also projected to grow by 3.8 percent by 2024, buoyed by an improved macro-economic environment, a positive copper price outlook and stable and predictable mining policy environment.
Previously, the economy fell into a deep recession due to the adverse impact of the COVID-19 pandemic and mounting debt that became unsustainable.
The output contraction was as a result of an unprecedented deterioration in all key sectors of the economy.
This resulted in the manufacturing output falling sharply as supply chains were disrupted, while the service and tourism sectors were hurt, as private consumption and investment weakened due to CLICK TO READ MORE