Mining Indaba 2021
Covid-19EconomySouthern Africa

Zambia’s economy to shrink 4.2% in 2020

Zambia expects its gross domestic product to shrink by around 4.2% in 2020, more than the 2.6% contraction forecast by the central bank in May, finance minister Bwalya Ng’andu said on Wednesday.

Sectors including mining, energy, construction, manufacturing, tourism, trade and transport were all expected to record poor performances due to Covid-19, Ng’andu said.