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Zambia to see respectable 4% growth, says World Bank

Staff Writer | February 22, 2017
The World Bank projected Zambia's economy to grow at 4 percent this year, surpassing the target set by the government.
Zambia street
African economy   Rising copper prices
Srinivas Gurazada, the World Bank's senior financial management specialist, said the economy will rise to 4 percent in 2017 and 4.2 percent in 2018.

In the 2017 budget, the Zambian government projected the economy to grow at 3.4 percent from 3.0 percent recorded in 2015.

Gurazada attributed the growth to rising copper prices on the international market and improved electricity supply due to higher water levels in the country's key reservoirs.

The Zambian economy shrank last year on account of low copper prices as well as a power deficit that affected industries.