Zambia Seeks Growth Amid Challenges with Economic Reforms and Investment

• President Hichilema outlines economic recovery plans despite anticipated GDP slowdown to 2.3% in 2024 due to drought
• Focus on mining, agriculture, tourism, and energy sectors to drive growth and diversify the economy

Lusaka, Zambia – Zambia’s President Hakainde Hichilema has reaffirmed his administration’s commitment to steering Zambia onto a growth path, despite numerous challenges impacting key economic sectors. Speaking at the opening of parliament, Hichilema noted the economy’s shift from negative growth post-COVID-19 to an average GDP growth of 5.3% over the past three years. However, growth prospects for 2024 are expected to dip to 2.3% due to severe drought conditions.