[18] Zambia's economic performance has stalled in recent years due to declining copper prices, significant fiscal deficits, and energy shortages.

About one-half of the country's 16 million people are concentrated in a few urban zones strung along the major transportation corridors, while rural areas are under-populated.

A major switch in the structure of Zambia's economy came with the Mulungushi Reforms of April 1968: the government declared its intention to acquire equity holdings (usually 51% or more) in a number of key foreign-owned firms, to be controlled by a parastatal conglomerate named the Industrial Development Corporation (INDECO).

In 1971, INDECO, MINDECO, and FINDECO were brought together under an omnibus parastatal, the Zambia Industrial and Mining Corporation (ZIMCO), to create one of the largest companies in sub-Saharan Africa, with the country's president, Kenneth Kaunda as chairman of the board.

Kaunda's removal of food subsidies caused massive increases in the prices of basic foodstuffs; the country's urbanized population rioted in protest.

Although balance-of-payment payments are not the answer to Zambia's long-term debt problems, it will in the short term provide the government some breathing room to implement further economic reforms.

[29] In September 2011, the social democrat, Michael Sata led the Patriotic Front (PF) to victory with a vow to improve conditions for their Zambian employees.

[44] With a push for Zambia to be able to produce 3 million tonnes of Copper per annum within the next 10 years, the government reintroduced the deductibility of mineral royalty for corporate income tax assessment purposes.

[51][52] In early August 2022, the Zambia Development Agency, a quasi-government institution under the Ministry of Commerce, Trade and Industry reported that it had recorded numerous investment pledges worth US$3.8 billion in the first half to 2022 targeting the agriculture, tourism, construction and mining sectors with a potential job market of 19,000.

[56] At the end of July 2022, the Official Creditor Committee co-chaired by China and France, and vice chaired by South Africa agreed to provide the financing assurances under the G20 Common Framework for debt treatment that Zambia had been waiting for to secure final approval from the International Monetary Fund for a US$1.4 billion bailout under the Extended Credit Facility.

[60] On 31 August 2022, the International Monetary Fund (IMF) board approved a US$1.3 billion extended credit facility to help Zambia restore fiscal stability.

[77] It was a high-level event that brought together entrepreneurs, experts, financial institutions, innovators, and policy decision-makers from Zambia, the EU and representatives of its 27 member states.

[79] The forum was launched as a platform with a view to promoting employment, value addition and increased trade through business-to-business (B2B) and business-to-government (B2G) collaboration and economic synergies for EU and Zambian businesses.

[82] In July 2022, the World Bank approved a further US$665.0 million to fund projects in Zambia to spur economic recovery and growth and also lighten the debt burden.

[59] In late October 2022, the World Bank approved US$275.0 million concessional loan targeted at fiscal stabilization and accelerated economic programs.

The event also saw the signing of an Exchange Letter of the Duty Free Treatment for Zambian products corresponding to 98-percent of the tariff lines by Finance Minister Situmbeko Musokotwane and Chinese Ambassador to Zambia Du Xiao.

[109] In April 2022, Gemfields, the majority owner in the mine, recorded a record U$42.3 million at a sold out March/April auction and since 2009, Kagem-sourced gemstones (emerald and beryl) have netted Gemfields revenue totaling U$792 million with the proceeds fully repatriated to Kagem in Zambia, with all royalties due to the Zambian government paid on the full sales prices achieved at auctions.

In 2007, the Zambian government sought scrutiny and guidance from the International Atomic Energy Agency (IAEA) on its developed guidelines to regulate the mining of uranium in the country.

In the past, the agriculture sector suffered from low producer prices, difficulties in availability and distribution of credit and inputs, and the shortage of foreign exchange.

[149] Further, following the UPND governments' policy decision to place INDENI Petroleum Refinery on care and maintenance, the nation moved to one type of Diesel sold on the market, and that is the imported Low Sulphur Gasoil/Diesel.

[189] In January 2023, Zambia announced plans to acquire a stake in its neighbor Angola's Lobito Oil Refinery located in Benguela Province along the Atlantic Coast.

Under the current proposal, private investors, including Zambia, will own 70% shares in the refinery, while Angola's state oil firm, Sonangol Group, will hold 30% ownership.

][193] have visited the tourist site with the latter celebrating her £3 million nuptials in a picturesque ceremony at The Royal Livingstone Hotel by the banks of the Zambezi River.

[268] The aim is to  create a platform for Zambia to achieve economic development by attracting significant domestic and foreign direct investment (FDI) through a strengthened policy and legislative environment.

[268] Among the MFEZ investment incentives offered for companies operating under the MFEZ/Priority Sector include: for years 9 and 10, 75% of profits to be taxed Currently there are numerous MFEZs in Zambia:[268][270] Established in June 2012, the zone prioritizes agribusiness, packaging and printing, palm oil processing, pulp and packaging boards, pharmaceuticals, electrical and electronic appliances, ICTs, education and skills training, R&D, professional, medical, scientific and measuring services.

[274] Opened in 2007, prioritizes mining, engineering equipment assembly, construction materials, fertilizers, agriculture, and service sectors such as banking and hospitals.

[294] In December 2022, on the sidelines of the ongoing US-Africa summit in Washington DC, Zambia, the Democratic Republic of the Congo (DRC) and the United States of America signed an MOU toward the actualization of the electric vehicle battery value chain.

[299][300][301] Lack of balance-of-payment support meant the Zambian government did not have resources for capital investment and periodically had to issue bonds or otherwise expand the money supply to try to meet its spending and debt obligations.

This has kept interest rates at levels that are too high for local business, fuelled inflation, burdened the budget with domestic debt payments, while still falling short of meeting the public payroll and other needs, such as infrastructure rehabilitation.

US$nominal) (in US$ nominal) (real) (in Percent) (in percent)[306][303] (in % of GDP) (current millions US$) [307][308] (current millions US$) [309][308] (current millions US$) Major trade enhancing infrastructure projects carried out in Zambia's history: In December 2021, Zambia's UPND Government set up the Public-Private Partnership (PPP) Council of Ministers composed of the Minister of Finance and National Planning (Dr. Situmbeko Musokotwane) as the Chairperson and the Ministers of Infrastructure (Charles Milupi), Commerce, Trade, and Industry (Chipoka Mulenga), Transport and Logistics (Frank Tayali), and Technology and Science (Felix Mutati).