What is the current economic situation in Zambia?

What is the current economic situation in Zambia?

Overall, the economy is estimated to have contracted by 1.2% in 2020 — the first recession for Zambia since 1998. Inflation remained in double digits throughout 2020 — averaging 15.7% — and reached a high of 22.2% in February 2021.

Is Zambia in a recession?

The economy of Zambia fell into a deep recession due the adverse impact of the COVID–19 pandemic. Real GDP contracted by an estimated 4.9% in 2020, after growing by 4.0% in 2018 and 1.9% in 2019. The output contraction is the result of an unprecedented deterioration in all the key sectors of the economy.

Which country has the best economy in Africa 2020?


  • 2 | SOUTH AFRICA (GDP: $358.839 Billion)
  • 3 | EGYPT (GDP: $302.256 Billion)
  • 4 | ALGERIA (GDP: $172.781 Billion)
  • 5 | MOROCCO (GDP: $119,04 Billion)
  • 6 | KENYA (GDP: $99,246 Billion)

What are the major problems in Zambia?

Health: HIV/AIDS, malaria and tuberculosis are Zambia’s biggest health development challenges. Malaria is endemic in all of Zambia’s 10 provinces and in both urban and rural areas, and predominantly attacks the most vulnerable populations, accounting for 40% of under 5 deaths and an estimated 20% maternal deaths.

Why is Zambia still poor?

Zambia’s isolation limits access to markets and technical training or skills, which hurts the economy and contributes to poverty. Food insecurity is high, as more than 350,000 people in the country do not have access to a regular food supply.

Is Zambia a stable country?

Zambia: Political stability index (-2.5 weak; 2.5 strong) The latest value from 2020 is -0.13 points. For comparison, the world average in 2020 based on 194 countries is -0.07 points. See the global rankings for that indicator or use the country comparator to compare trends over time.

Which country is the best in Africa 2020?

Egypt has retained its position as the most powerful nation in Africa for 2020, according to a report by US News and World Report. The report analysed the world’s most powerful countries – those that consistently dominate news headlines, preoccupy policymakers and shape global economic patterns.

Is Zambia better than Uganda?

Uganda vs Zambia: Economic Indicators Comparison Uganda with a GDP of $27.5B ranked the 104th largest economy in the world, while Zambia ranked 106th with $26.7B. By GDP 5-years average growth and GDP per capita, Uganda and Zambia ranked 41st vs 62nd and 187th vs 157th, respectively.

What are the social problems in Zambia?

The People’s Poverty We also look at “human poverty”, which means low life expectancy, lack of decent education, and poor access to basic needs, including secure food supply, health care, education, water, sanitation and housing. In Zambia, 73% of the population are poor or extremely poor.

What is the African Economic Outlook for 2021?

African Economic Outlook 2021 The 2021 edition of the African Economic Outlook focuses on debt resolution, governance, and growth in Africa. Chapter 1 examines Africa’s growth performance and outlook amid the COVID–19 pandemic. The chapter emphasizes policy options to mitigate the effects of the pandemic in the short, medium, and long terms.

Zambia Economic Outlook Recent macroeconomic and financial developments The economy of Zambia fell into a deep recession due the adverse impact of the COVID–19 pandemic. Real GDP contracted by an estimated 4.9% in 2020, after growing by 4.0% in 2018 and 1.9% in 2019.

What is the current economic performance of Africa?

This year’s African Economic Outlook from the African Development Bank shows that the continent’s general economic performance continues to improve. Gross domestic product reached an estimated 3.5 percent in 2018, about the same as in 2017 and up from 2.1 percent in 2016.

What kind of debt does Zambia have now?

The expansionary fiscal policy, mainly financed by external and local borrowing, caused Zambia’s public and publicly guaranteed debt to hit 91.6% of GDP in 2019 and 104% in 2020. It will remain elevated in the medium term.