Zambia GDP to Grow 5.6% in 2026 and 4.9% in 2027 With Inflation Easing to 8.0%, IMF Projects
In its World Economic Outlook October 2026, the IMF projects Zambia's real GDP growth to accelerate to 5.6% in 2026 from 3.8% in 2025, above the 4.5% sub-Saharan Africa average and second only to Tanzania's 6.0% among Zambia's neighbours. Zambia's inflation is projected to ease to 8.0% in 2026 from 13.9% in 2025, below the 8.6% sub-Saharan Africa average, while the current account swings to a surplus of 2.3% of GDP.
Zambia Africa Financial Markets Index 2026 Score Rises to 55 After Debt Default Exit
Zambia scored 55 in the Absa Africa Financial Markets Index 2026, up from 54 and 15th of 29 countries, after formally exiting default, advancing its IMF programme, and overhauling government securities issuance. Outstanding sovereign bonds nearly doubled in dollar terms, the largest market size gain among all 29 countries, while external debt rose 13.3 percentage points to 63.7% of GDP.
Zambia GDP Growth Revised to 3.8% in 2025, AfDB Projects Recovery to 5.0% in 2026 and 6.3% in 2027 as Inflation Eases to 9.3%
The AfDB African Economic Outlook 2026 revised Zambia's GDP growth to 3.8% in 2025, down from an initial 5.2% estimate, due to underperformance in ICT, trade, and finance, with inflation declining to 14.0% and public debt dropping to 87.6% of GDP following debt restructuring. Growth is projected to recover to 5.0% in 2026 and 6.3% in 2027, driven by mining, agriculture, and energy recovery, with inflation easing to 9.3% in 2026 and the current account swinging to a surplus of 0.8% of GDP on higher copper export earnings.
IMF Projects Zambia Fiscal Surplus To Fall To 1.1% Of GDP In 2026 From 3.1% In 2025 With Growth At 4.3% And Inflation At 8.5%
IMF staff concluded a visit to Zambia to review economic developments under the recently completed Extended Credit Facility programme and discuss a possible successor arrangement. The Fund projects the fiscal surplus to fall to 1.1% of GDP in 2026 from 3.1% in 2025, with growth at 4.3% and inflation expected at 8.5% by the end of 2026.
Zambia Gains Duty-Free Access to China’s Market Under New Zero-Tariff Policy
Zambian exporters have gained duty-free access to China on 100% of tariff lines from 1 May 2026, under a zero-tariff policy covering 53 of Africa’s 54 countries, with Eswatini the only excluded nation. Zambia’s exports to China totalled USD 2.34 billion in 2024, and the new policy is expected to drive diversification beyond copper into gemstones, honey, soybeans, sugar, cotton, tobacco, and processed minerals, since copper itself already entered China duty-free under existing rules.
Zambia Economic Growth Forecast Set at 5.5% for 2026 as IMF Cuts 2025 Growth to 4.5% and Warns of Fiscal Pressures
The International Monetary Fund projects Zambia’s economic growth at 5.5% in 2026 after revising the 2025 forecast down to 4.5% due to weaker mining and energy constraints. The mission also noted progress in debt restructuring, stronger reserves, declining inflation, and emerging fiscal pressures ahead of the elections.
Zambia Ranks 3rd in Africa for Mining Investment as Improved Policy Framework Boosts Global Ranking
The 2025 Fraser Institute survey ranks Zambia as the 3rd most attractive destination for mining investment in Africa, achieving a global rank of 25th out of 68 jurisdictions. Zambia leads regional peers like Tanzania in overall attractiveness, driven by a combination of significant mineral potential and a strengthening policy framework.
IMF Completes Sixth Review of Zambia Extended Credit Facility, Approves USD 190 million with GDP Growth Projected at 5.8% and Inflation at 9.3% in 2026
The International Monetary Fund has completed the sixth and final review of Zambia’s Extended Credit Facility, approving a USD 190 million disbursement and bringing total programme support to USD 1.7 billion. The Fund estimates GDP growth at 5.2% in 2025, driven by strong mining activity and record maize production, and projects growth of 5.8% in 2026, supported by improved electricity generation and continued expansion in mining and services, while inflation is projected to decline to 9.3%.
United States Imposes Partial Travel Restrictions on Zambia Affecting Business, Tourism, Study, and Immigration From January 1, 2026
The United States has announced partial travel restrictions on Zambia effective January 1, 2026, covering business, tourism, student, exchange, and immigrant visa categories. The decision is based on visa overstay data and screening assessments under a presidential proclamation.
Dot Com IPO in Zambia Oversubscribed by 114% and Closes Early on LuSE
The Lusaka Securities Exchange announced that the Dot Com IPO in Zambia was oversubscribed by 114% and closed one week ahead of schedule. The offer attracted strong retail participation and a high share of subscriptions from Zambian investors, with trading expected to begin on 17 December 2025.