The Zambia Statistics Agency (ZAMSTATS) has disclosed that the Gross Domestic Product (GDP) estimates indicate that the country’s economy grew by 5.6 percent in the fourth quarter of 2022 from the 5.5 percent in 2021.
Agency Statistician General Mulenga Musepa attributes the 0.1 percent growth to a positive performance in sectors such as education, transportation, financial and insurance as well as wholesale and retail trade.
Mr. Musepa adds that the industry contribution to the 5.6 growth was a 1.6 percent in
education, 1.5 percent in transportation and storage, 1.3 percent in information and communication, with financial and insurance as well as wholesale and retail trade contributing 1.1 percent.
He further adds that Zambia’s annual rate of inflation for March 2023 increased to 9.9 percent from 9.6 percent in February 2023.
Mr. Musepa says the increase is as a result of an increase in annual food inflation to 11.8 percent from 11.6 percent and the increase in annual non-food inflation to 7.3 percent from 6.9 percent.
By Shem Malinda
