ZAMBIA’S ECONOMY PROJECTED TO GROW BY IN 2025 FROM THE 1.2% IN 2024
Finance Minister, Dr. Situmbeko Musokotwane has disclosed that Zambia’s economy is projected to grow impressively despite the current challenges.
The Minister has attributed the current economic downturn to drought conditions that significantly impacted agricultural output, resulting in a drop in GDP growth projections from 5% to just over 1%.
Dr. Musokotwane adds that the Government remains optimistic of continued economic growth, citing the reopening of mining companies, including KCM, First Quantum, Mopani, and Lumwana, under the New Dawn government.
He further says that the Multi-Facility Economic Zone (MFEZ) in Chibombo District is also expected to drive growth, creating jobs and generating revenue.
Dr. Musokotwane is of the view that with the 11 investment agreements securing $129 million, the MFEZ will also become a hub for economic development.
Meanwhile, MFEZ Managing Director Charles Ye has announced plans to build a $50 million solar power plant to address ongoing power challenges.
ZAMBIA’S ECONOMY PROJECTED TO GROW BY IN 2025 FROM THE 1.2% IN 2024
