President Hakainde Hichilema has acknowledged progress in Zambia’s economic recovery, pointing to stabilisation of the kwacha, a decline in inflation, and the completion of the International Monetary Fund’s Extended Credit Facility Programme.
According to a press release issued by the Office of the President, inflation fell into single digits for the first time since August 2023, dropping to 9.4 percent in January 2026 from 11.2 percent the previous month. The reduction was described as a sign of easing pressure on household budgets.
The President expressed appreciation to Zambians for what the statement described as patience, resilience, and continued support throughout the country’s economic recovery efforts. The progress was attributed to fiscal discipline and structural reforms implemented over recent years.
The statement indicated that Zambia’s recent economic gains follow the successful conclusion of the IMF-supported programme, with the President acknowledging the Fund’s role in supporting the reform agenda. It noted that the government intends to build on the foundations established under the programme as it pursues continued economic stabilisation and growth.
The release recalled that Zambia was in sovereign debt default in 2021, contrasting that position with what it described as the country’s current trajectory toward economic recovery and improved stability. It stated that the past four years were dedicated to implementing reforms intended to restore macroeconomic stability, strengthen public finances, and support sustainable growth.
The IMF was cited as confirming Zambia’s positive economic outlook, including a projected real GDP growth rate of 5.8 percent in 2026. The statement also reported a reduction in public debt, noting that debt levels declined from 112 percent of GDP in 2021 to a projected 78 percent in 2025.
According to the release, lower debt levels have contributed to reduced interest payments, creating fiscal space for increased spending on public services and social programmes. The statement indicated that this shift has allowed more resources to be directed toward clinics, schools, and road infrastructure, with the President linking debt relief to improved national investment capacity.
The press release also referenced increased government investment in social and development initiatives, including the Farmer Input Support Programme (FISP), free education, expanded Constituency Development Fund (CDF) allocations, and the reintroduction of university bursaries. These measures were presented as part of broader efforts to strengthen livelihoods and expand access to essential services.
The President acknowledged that economic recovery remains ongoing and stated that the reform process is not yet complete. The statement noted that work remains in areas such as job creation, energy reliability, and expanding opportunities for young people.
The release further emphasised that lower debt and improved fiscal space can contribute to long-term national development, linking debt reduction to the ability of families to invest in education and future opportunities rather than being constrained by financial obligations.
The statement encouraged Zambians to continue working with the government as it seeks to translate macroeconomic gains into broader employment opportunities and improved living conditions across the country.
The press release was issued by Clayson Hamasaka, Chief Communications Specialist at State House, and dated 29 January 2026. Click link below.
PRESIDENT HICHILEMA THANKS ZAMBIANS AS ECONOMIC REFORMS DELIVER, 29TH JANUARY,2026
We still have ungrateful citizens who are like a thief who robs with pride.
As if there will be anything bad that will be said by propagandists in an election year. The failure has been very visible in the last 4 years and things must just improve today at a click of a button, just how. We gave you a chance, you blew it away yourself. Continue being in denial and in self praise
They have worked, kabili hunger is biblical
@independent, as yourself what you do to improve your life before the country improves your economy in your eyes. Ubwafya, tulyemo mentality making you whynn all the time accusing the government of failing.
Most of the ungrateful ones, are those who only believe in very fast money, getting good things in a quickest way. But in most cases such formulas and quick ways don’t normally work but only leads individuals and groups into regrettable situationd. The PF guys became prone to the same formulas, as result they ended up in jails, and others are on the wanted listd and court line ups Otherwise, HH means well to us all.
Nkana, dont full yourself. I am very well todo. I have more money than you.
The day the guy telling himself that he is lawyer something or lawyer somebody realises that Zambia was in the UPND era declared the sixth poorest country in the world, maybe he will chilimuka.
President HH has consistently highlighted three initiatives as his core achievements: FISP, free education, the expansion of CDF, and the reintroduction of university bursaries. Does this mean that, after five years in office, these alone define his administration’s record?
What happened to the broader economic transformation agenda he promised Zambians throughout his 20 years in opposition?
This raises questions about whether the UPND ever had a coherent economic vision, framework, or development roadmap in place. The key weakness seems to be the President’s failure to assemble a strong, team of talented Zambians to design and implement clear, measurable and implementable economic development strategies across all the districts / provinces of the country.
abaleya
We all know it’s PF that are bringing up unnecessary confusion without acknowledging the massive progress that HH has brought onboard. The good news is that the masses have realised that PF and their allies are liers. They’ve actually buried themselves.
The way these People fear PF is just at another level. But the opposition is fragmented and disorganized, of course sponsored confusion by those who fear PF the way children fear darkness
Which results?
Stastical results. Not real results, otherwise the people could have felt the results on the ground. Winter Kabimba expounded this point very elaborately a few days ago. The country is worse off than 4 years ago, no amount of propaganda will change this
I agree 100% the 1.8 million voters for paya farmers are big time causing confusion so that it looks like nothing has been done but some of us who were mistreated by those so-called commanders the pain is still there. Sometimes we still think like it’s just a nightmare we will work up one day and find them back. This fear alone has again caused us to organise ourselves and vote in the UPND again so that we continue enjoying peace.
Some of us are just going to the polling booth in August to delete what we we did in August 2021.
It is honestly not worth it any more.
Thanks for the attempt
Everybody has blind spots in their worldview and you’re certainly one of them. Please do tell how you know more than the IMF and World Bank?
………..
The disgruntled are usually ex PF who expect free handouts, who………..
Expect to reap where they did not sow………..
Or……….
Tribal supremacists who still can’t get their heads around being ruled by a Tonga cattle herder from bwengwa…………
It was said from day one , There are no free handouts with this GRZ, it’s all about reaping only after you sow through hard work,…..,….
Despite a record drought that would have sunk all GRZ’s,,…………
This GRZ has managed to come out intact from the other end
We are here
FWD2041
The job of the opposition is not to applaud when things are going right. They hate things going right in the country.
Until most Zambians learn the true meaning of Independence and not what they are taught
Cant see us making this country self sufficiant
PF had more good than bad. The opposite is true of now. Any way this being an election year maybe mealie meal will go to K50. Bumper harvest which does not bring food prices down, atleast down to where the ever green PF left them. PF still stands tall here!
Dimwit .. think beyond the box.. destroying is easier than building.
PF failed to repay the loan from IMF .. UNDP inherited the debt.
It is now known that Zambia became the only country in the world to do so.
President HH has consistently highlighted three initiatives as his core achievements: FISP, free education, the expansion of CDF, and the reintroduction of university bursaries. Does this mean that, after five years in office, these alone define his administration’s record?
What happened to the broader economic transformation agenda he promised Zambians throughout his 20 years in opposition?
This raises questions about whether the UPND ever had a coherent economic vision, framework, or development roadmap in place. The key weakness seems to be the President’s failure to assemble a strong, team of talented Zambians to design and implement clear, measurable and implementable economic development strategies across all the districts / provinces of the country.