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Zambia Economic Growth to Rebound in 2025, Finance Ministry Says - BLOOMBERG

MAY 26, 2024

(Bloomberg) -- Zambian economic growth is expected to recover next year from the effects of the worst drought in at least four decades, Secretary to the Treasury Felix Nkulukusa said.

Gross domestic product is expected to expand by about 6% in 2025 and by a similar amount the following year, Nkulukusa told reporters in a virtual briefing on Saturday from Lusaka, the capital. The economy is expected to grow 2.3% this year.

Output in the southern African nation is being curbed by an El Niño-induced drought that’s slashed production of the staple food corn. The government has received commitments totaling about $500 million from its partners to deal with the effects of the dry weather, Nkulukusa said.

The secretary also reiterated that the government is confident that eurobondholders will approve a proposed restructuring of the nation’s debt, ahead of a meeting with creditors next month.


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