Macroeconomic Forecast Riding The Commodity Boom

January 2008 | Macroeconomic Forecasts

Our core view for Zambia forecasts continued real GDP growth rates of 6.0% and 5.5% in 2008 and 2009, spurred on by high commodity prices and high levels of foreign investment. We similarly see the current account picture staying positive on the back of the global commodity boom, with a surplus of 5.3% and 4.2% in 2008 and 2009. The high prices of metals exports would be counter-balanced by growing imports, as the government seeks to invest in its physical infrastructure.

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