2021 Zambia Budget
Navigating The New Normal
Economic growth is projected to contract 4.2% this year owing to the COVID-19 pandemic and ongoing electricity shortages, putting the economy into recession for the first time in 22 years.
Overview
The Minister of Finance, Hon. Dr Bwalya Ng’andu (“The Hon. Minister”) will have his work cut out next year if he is to steer Zambia’s economy to firm ground ahead of the 2021 general election in August.
Economic growth is projected to contract 4.2% this year owing to the COVID-19 pandemic and ongoing electricity shortages, putting the economy into recession for the first time in 22 years and raising questions about how Zambia will manage its large debt burden. Copper price volatility plus a Sharply weakened kwacha are adding to Zambia’s economic woes.
