Lusaka — Zambia is targeting average economic growth of about 7% over the next three years, as the government seeks to build on progress in restructuring its external debt and attract more investment.
The finance ministry's medium-term macroeconomic framework projects economic growth of 6.0% in 2027, 7.5% in 2028 and 7.1% in 2029.
The government had previously forecast 6.4% growth for 2026, while the International Monetary Fund has projected a more modest 4.3% expansion this year.
Finance Minister Situmbeko Musokotwane said the government now wanted to move beyond economic stabilisation and focus on attracting investment, increasing exports and creating jobs.
Zambia plans to achieve those objectives by leveraging key sectors including mining, energy and agriculture, the ministry said.
Musokotwane, who was recently reappointed following last month's election, played a central role in the country's lengthy external debt restructuring negotiations after Zambia defaulted during the COVID-19 pandemic.
The copper-producing southern African country is also seeking to secure a new IMF programme before the end of 2026, after its previous $1.7 billion arrangement expired in January.
Source: Reuters
Reporting: Chris Mfula
Writing: Sfundo Parakozov
Editing: Alexander Winning
