Zambia targets 7% economic growth through new production-led agenda

Zambia is transitioning its economic policy from macroeconomic stabilization toward a production-led expansion strategy known as the ‘Grow Zambia Agenda’. The government has approved the 2027–2029 Medium Term Budget Plan and a corresponding Green Paper, targeting an average economic growth rate of approximately 7 percent between 2027 and 2029.

Key production targets under the ‘10-10-5-3-3-1-1-1’ framework include producing 10 million tonnes of maize, generating 10,000 megawatts of electricity, attracting 5 million tourists annually, and producing 3 million tonnes of copper. The strategy also aims to expand agricultural exports in sectors such as soya beans, wheat, and sugar.

Financially, Zambia reported that external debt fell by 5% to US$15.36 billion in the first half of 2026. Officials noted improvements in macroeconomic fundamentals, including a decline in annual inflation to 6.1% and a strengthening Kwacha. However, the government remains cautious regarding risks such as El Niño-induced droughts and geopolitical tensions.

On the international stage, Zambian officials at the UN General Assembly have advocated for greater representation for Africa on the UN Security Council and campaigned for a seat on the UN Human Rights Council for the 2027–2029 term.