Zambia’s 2024 Economy: Resilience Through Adversity

Zambia's economy grew by approximately 4.0% in 2024, demonstrating resilience despite severe challenges. The country faced one of its worst droughts in decades, prolonged electricity shortages, high inflation, and exchange rate pressures. Agriculture was heavily affected by the drought, reducing crop production and rural incomes. However, growth was supported by increased copper production, expansion in telecommunications, financial services, construction, and continued economic reforms. Progress in debt restructuring and support from international partners also helped strengthen economic stability. Overall, 2024 was a year of economic resilience, where strong performance in mining and services helped offset the negative effects of drought and power shortages, laying the foundation for stronger recovery and growth in subsequent years. #zambianeconomy #zambianews #economics