Macroeconomic Forecast Macroeconomic Forecast - Zambia

BMI View: Following the release of new data from the Central Statistical Office, we have updated our 2005 growth figure to 5.1, substantially up from our previous 4.3% estimate. We expect continued robust growth of 6.0% this year, as the mining sector's output continues its upward trajectory. A key challenge is continued diversification of the economy. We stand by our 13.3% e-o-p CPI target, with inflation beginning to tick up, coming in at 8.7% y-o-y in July, up from 8.5% in June. Recent kwacha weakness and rising inflation across the region should see an acceleration of price increases going forward.

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