MINISTER of Finance and National Planning Situmbeko Musokotwane says Zambia’s economic growth is projected to grow to more than six percent in 2025.
Dr Musokotwane said the projected growth will come from agriculture and mining, supported by a stabilised economic environment.
He pointed out that in 2026 and beyond, economic growth will be much stronger than ever before, due to a stabilised economic environment.
“We have seen that the interest in the mining sector has become very strong. By 2027, Zambia will be producing more than one million tonnes of copper per year,” he added
In terms of revenue mobilisation, the Minister said there is a need to consolidate the tax base by improving efficiency and collections in existing taxes.
“In 2025, we certainly expect strong growth of more than 6.2 percent. Most of this growth will come from agriculture and mining, as life will come back to normal,” he said.
The Minister was speaking at the 2025 Post Budget and Economic Outlook Symposium organised by the Chinese Chamber of Commerce in Zambia (CCCZ).
He acknowledged the contributions of the Chinese business community to the economic growth of the country, citing various investments in the manufacturing sector, among them the recently commissioned steel plant in the Lusaka South Multi-Facility Economic Zone.
He noted that Chinese investments are creating jobs and adding value to the economy.
“Going forward we need more Chinese investments to raise the living standards of the people and increase business opportunities,” he added.
And Secretary to the Treasury Felix Nkulukusa said the government wants inflation to be in the six to eight percent band so that stability can be provided as well as to create long term investment projection.
Speaking at the same event, CCCZ President Li Tie said it is encouraging that Zambia has a clear direction for the three million copper production which gives a target direction which is good for Chinese investors.
Mr LI said Chinese investors are interested to invest in various sectors of the Zambian economy which include mining, Green energy and agriculture.
“We want to invest in high value crops, livestock and fishing. Introduce some new technology and potential Chinese investors in the agriculture sector, working with about 50,000 local out growers,” he added.
Meanwhile, Economic Counselor at the Chinese Embassy Jin Jun said the Chinese business community contributes a significant amount in taxes annually to Zambia and that Chinese business companies plan to increase their investments by US$5 billion in the next five years.
