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The Zambia Institute for Policy Analysis and Research (ZIPAR) has expressed hope that Zambia’s economy will rebound in 2025, with favorable weather patterns seen as a key factor in this recovery.
ZIPAR’s Interim Executive Director, Zali Chikuba, expressed believe that good weather, especially rainfall, would provide the much-needed support for critical sectors such as agriculture and energy.
Speaking at the 2024 economic performance and 2025 outlook media briefing on Wednesday at the ZIPAR offices, Chikuba noted that the economic challenges Zambia faced this year had paved the way for a potential recovery.
He stressed the importance of favorable weather in boosting the agriculture sector, which remained a cornerstone of the economy, as well as supporting the energy sector’s growth.
“We should pray that we have good rains because this will help the economy rebound. This will also help the energy and agriculture sectors become stronger, among others.
“Strategic investments and policy reforms represent the seed of progress, but their success depends on collective efforts and addressing structural challenges,” Chikuba said.
While ZIPAR remained hopeful about the coming year, Chikuba acknowledged the challenges Zambia had faced in recent years.
However, he pointed out that the country has laid a foundation for recovery with ongoing strategic investments and reforms.
In addition to the anticipated weather conditions, Chikuba highlighted the notable progress made by the government in resolving Zambia’s prolonged debt restructuring process.
He identified this as the government’s biggest achievement in 2024.
Notable milestones include reaching agreements with Eurobond holders, swapping outstanding bonds for new ones, and finalizing agreements with non-bonded commercial creditors such as Paramount and Huawei Technologies.
“Key milestones include reaching an agreement with Eurobond holders, exchanging outstanding bonds for new ones, and executing agreements with non-bonded commercial creditors like Paramount and Huawei Technologies,” Chikuba stated.
ZIPAR’s outlook for 2025 hinges on continued government efforts, favorable weather, and an environment conducive to economic growth, with a particular focus on agriculture and energy sectors.
However, Chikuba stressed that the full potential of these reforms could only be realised if Zambia addressed the structural challenges that have hindered sustained progress in the past.
The 2024 briefing set the stage for a hopeful 2025, with ZIPAR calling on all stakeholders, including the government, private sector, and the public, to work together to achieve economic growth and stability.
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