Economy Shows 'Inspiring Resilience' Despite Economic Shocks

The economy continues to demonstrate remarkable strength in the face of global economic turbulence, the country's Finance and National Planning Minister has said.

Dr Situmbeko Musokotwane told reporters that the nation's economy was showing "inspiring resilience" despite facing significant economic shocks.

The minister expressed confidence that Zambia would achieve strong economic growth this year and beyond, citing an expected rebound in the crucial agriculture sector and increased productivity in mining operations.

The government is maintaining close oversight of the energy sector, with Dr Musokotwane saying officials remain "on high alert for any glitches" that could derail economic progress.

The minister assured development partners that the nation remains committed to sustained reforms in the energy sector to prevent any negative impact on the economic recovery currently underway.

However, Dr Musokotwane acknowledged that external conditions remain difficult, particularly citing "high levels of global policy uncertainty" following analysis of the May 2025 budget expenditure report.

Despite these challenges, the government has pledged to continue its reform agenda focused on building economic resilience and creating fiscal space for investment.

The finance minister said the administration would work to "crowd-in private investment through a conducive business environment" while promoting partnerships to develop key economic sectors.