2024: What a year it has been!
Zambia is now grappling with the devastating effects of the climate change-induced energy crisis. The year started with a projected GDP growth rate of 4.6%, which was cut to 2.3% at mid-year and is now expected to be 1.3% according to the IMF. To say that it’s been challenging is an understatement.
The recent years have seen Zambia lurch from one crisis to another. Some, like Covid-19 and the effect of geopolitical tensions, alongside the rest of the world, whilst others, like the effects of unsustainable debt and the current energy crisis in relative isolation.
It’s no wonder that a fairly significant update on debt restructuring provided by the Honorable Minister of Finance and National Planning, Dr Situmbeko Musokotwane, when he presented the 2025 budget received very little press.
