{"id":74099,"date":"2025-06-30T20:30:00","date_gmt":"2025-06-30T20:30:00","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast"},"modified":"2025-06-30T20:30:00","modified_gmt":"2025-06-30T20:30:00","slug":"zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast","title":{"rendered":"Zambia\u2019s Economy Stabilizing, Poised for Growth \u2013 Dr. Haabazoka Gives Three-Year Forecast"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>Zambia\u2019s economy is emerging from a difficult recession and entering a phase of stable, moderate growth, with prospects for a new boom on the horizon this, according to economist and former EAZ president Dr. Lubinda Haabazoka, who has projected over 6% economic growth in the next three years if key fundamentals are maintained.<\/p>\n

\u201cWe are no longer in a recession,\u201d Dr. Haabazoka affirmed. \u201cBut we are not yet in a boom. We are in a transitional period where macroeconomic indicators are stabilizing.\u201d<\/p>\n

Zambia\u2019s previous boom, he explained, peaked around 2016 following aggressive public infrastructure spending and increased liquidity. However, this momentum was lost as droughts, power shortages, and ballooning debt obligations piled pressure on the economy. The pandemic delivered a final blow, leading to a technical default in 2020 and economic contraction.<\/p>\n

Following that downturn, Zambia embarked on a debt restructuring programme under the G20 Common Framework. The restructuring has now restored a degree of credibility in the global financial system. Indicators such as inflation, interest rates, and exchange rates the \u201ceconomic holy trinity,\u201d as Dr. Haabazoka calls them\u2014are slowly stabilizing.<\/p>\n

Notably, Zambia\u2019s foreign exchange reserves have surged past $4.2 billion, the highest in over 15 years, while inflation has started to ease and the kwacha has shown signs of resilience despite seasonal vulnerabilities.<\/p>\n

Dr. Haabazoka warns, however, that growth is still vulnerable to external and structural risks. These include rainfall patterns, international oil prices, power supply, and the performance of the mining sector, which remains Zambia\u2019s largest source of foreign currency. He added that debt servicing pressures could still weigh on the local currency, especially during high-demand months between September and December.<\/p>\n

To sustain recovery, Dr. Haabazoka recommends that the Bank of Zambia maintain its tight monetary policy while the government focuses on expanding public-private partnerships (PPPs) to reduce reliance on foreign borrowing for infrastructure development.<\/p>\n

He also called for tax relief for businesses and households to stimulate domestic production, urging policymakers to adopt a domestic business growth agenda anchored on exports.<\/p>\n

\u201cOur politics must stop interfering with the economy,\u201d he stressed. \u201cNation-building requires long-term discipline, not five-year cycles of economic disruption.\u201d<\/p>\n

Looking ahead, Dr. Haabazoka believes Zambia is on track to record over 6% growth annually in the next three years\u2014ceteris paribus\u2014if reforms are maintained and key sectors like mining, agriculture, and energy receive targeted support.<\/p>\n

Above all, he called for a mindset shift among citizens, away from constant politicking and toward wealth creation and entrepreneurship.<\/p>\n

\u201cPolitics should be a once-every-five-years affair,\u201d he concluded. \u201cWe need to build a nation focused on growth, stability, and long-term prosperity.\u201d<\/p>\n

June 30, 2025<\/p>\n

\u00a9\ufe0f KUMWESU<\/p>\n

\uf4ca Kumwesu Business | Empowering Insights. Bold Truth.<\/p>\n

For More News And Analysis About Zambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. Zambia\u2019s economy is emerging from a difficult recession and entering a phase of stable, moderate growth, with prospects for a new boom on the horizon this, according to economist and former EAZ president Dr. Lubinda Haabazoka, who has projected over 6% economic growth in the next three years if key fundamentals are […]<\/p>\n","protected":false},"author":84,"featured_media":74098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[234,235,233],"class_list":["post-74099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"\nZambia\u2019s Economy Stabilizing, Poised for Growth \u2013 Dr. Haabazoka Gives Three-Year Forecast - Zambia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zambia\u2019s Economy Stabilizing, Poised for Growth \u2013 Dr. Haabazoka Gives Three-Year Forecast\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Zambia. Zambia\u2019s economy is emerging from a difficult recession and entering a phase of stable, moderate growth, with prospects for a new boom on the horizon this, according to economist and former EAZ president Dr. Lubinda Haabazoka, who has projected over 6% economic growth in the next three years if key fundamentals are […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-30T20:30:00+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Zambia\u2019s Economy Stabilizing, Poised for Growth \u2013 Dr. Haabazoka Gives Three-Year Forecast\",\"datePublished\":\"2025-06-30T20:30:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast\"},\"wordCount\":462,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2025\/06\/MohamadReza1751302837.913741.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambias-economy-stabilizing-poised-for-growth-dr-haabazoka-gives-three-year-forecast\",\"name\":\"Zambia\u2019s Economy Stabilizing, Poised for Growth \u2013 Dr. Haabazoka Gives Three-Year Forecast - 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