World Bank sees more economic growth for Zambia

by | February 20, 2017 12:28 pm

Zambia’s economic growth is seen rising to 4 per cent from 3.4 per cent in 2017 and 4.2 per cent in 2018, the World Bank said on Monday.

World Bank’s senior financial management specialist Srinivas Gurazada said at a meeting with mining firms in Lusaka that the growth would be due to a jump in copper prices and improved power supply.

“Zambia is on a slow economic recovery path,” Gurazada.

The government has forecast that the economy would grow 3.4 per cent this year from around 3 per cent in 2016.

The forecast was due to low copper prices, power shortages, inflation and a government cash crunch that restricted investment into new projects.