• Real GDP is projected to recover from a contraction of 2.8 percent in 2020.
• Preliminary estimates show a 3.3 percent GDP growth in 2021.
• Government policies in the medium term are anchored on restoring macroeconomic stability.

Government has projected 3.5 percent Gross Domestic Product (GDP) growth in 2022, 3.7 percent in 2023 and 4.4 percent in 2024.
According to the 2022-2024 Medium Term Budget Plan (MTBP) released by Ministry of Finance, real GDP is over the medium term projected to recover from a contraction of 2.8 percent registered in 2020, while preliminary estimates show a 3.3 percent GDP growth in 2021.
Secretary to the Treasury Felix Nkulukusa said government will undertake strategic interventions in agriculture, tourism, mining, manufacturing, energy, and transport sectors in order to grow the economy and create employment opportunities, especially for the youths.
“These interventions will augment Government’s fiscal policy stance over the medium term as they are aimed at increasing the nation’s economic growth.”
“Government policies in the medium term are anchored on restoring macroeconomic stability, attaining fiscal and debt sustainability, restoring economic growth and improving the livelihoods of citizens,” he said.
Mr. Nkulukusa further projected a positive economic outlook between 2022 and 2024 despite COVID-19 having a huge impact on economic growth, and posing additional challenges to creating fiscal space for delivery of public services in the previous medium term.
He added that the 2022-2024 Medium Term Budget Plan will provide a review of the economic and fiscal performance during the fiscal years 2019-2021.
“In view of the reforms that have been embarked on, Government policies in the medium term are, therefore, anchored on restoring macroeconomic stability, attaining fiscal and debt sustainability, restoring economic growth and improving the livelihoods of the Zambian people,” Mr. Nkulukusa stated.
Mr. Nkulukusa said the 2022–2024 Medium Term Budget Plan framework is predicated on the objectives that were set out in the 2022-2024 Budget Policy Concept Paper approved by Cabinet in September 2021 and on which the 2022 National Budget was based.