Zambia’s current economic growth described as low

Development analyst Charity Musamba says Zambia’s poor financial and development management has made it difficult for the country to excel economically resulting in the failure to maintain its development status.

The World Bank has reclassified Zambia to low income status from lower middle income for the 2023 financial year.

Dr. Musamba says various factors are considered when grading countries, noting that lack of stability and resilience of the economy to both domestic and external shocks has been attributed to Zambia’s current status.

She says the country’s economic growth is currently low, calling on the government to rethink on how to grow the country’s economy.

Dr Musamba states that the new dawn government’s way of chasing economic growth is not the only way of growing the economy, stressing the need to pursue balanced inclusive and sustainable development economic growth.

She has further stressed the importance of diversifying the economy to ensure it is inclusive and broad based in growth.