In-Depth Analysis
Zambia
The macroeconomic prospects for Zambia remain robust despite a backdrop of global malaise and subsequent downside risk to base metals. Underpinning the robust performance is the continued development of the extractive sector and the strong fiscal spending programme geared towards addressing the country’s infrastructure shortfall.
Climate-driven disruption and hours-long power outages set a sombre backdrop as economic growth is forecast to slump to a multi-year low of 1.7% in 2019 from a revised 4.0% in 2018. Grappling with the worst drought in nearly four decades, Kariba Lake levels plummeted to 13% by end-October, while fiscal strain left authorities unable to commence emergency power imports from South Africa as planned. (Source: Zambia Quarterly Update, November 2019.) ## Macroeconomic Data (2018)
|
Fiscal Balance (as a % of GDP) |
-8.3 |
|
Consumer Price Index (% change y-o-y, avg) |
7.5 |
|
Current Account Balance (as a % of GDP) |
-1.3 |
|
Real GDP (annual % change) |
4.0 |
|
GDP per Capita, US$ |
1,538.8 |
|
Import Cover (months) |
1.8 |
|
Population, million |
17.4 |
| Total External Debt (as a % of GDP) |
71.5 |