Zambia’s real Gross Domestic Product growth will stay constant in 2023, according to Fitch Solutions, a worldwide rating agency, as mining exports recover and investments in the industry continue to rise.
The growth forecast for Zambia, however, has been reduced by Fitch from 3.7 percent to 3.5 percent.
According to Fitch’s most recent Country Risk Report for the second quarter of 2023, this is the case.
The analysis predicts that in the second half of 2023, the Bank of Zambia would loosen up its recent monetary policy.
The central bank is anticipated to reduce the policy rate down to 9 percent by the end of 2023 as inflation resumes its downward path following a brief rise in February-March, according to the study.