Zambia economy grew 3.1% in 2022, higher growth needed: finance minister

LUSAKA (Reuters) - Zambia's Finance Minister Situmbeko Musokotwane said on Friday that the economy grew 3.1% last year but that the country should aim for higher growth.

The Southern African country contained annual inflation to single digits at 9.9% in December from 16.4% in December 2021. But reducing inflation to 6%-8% in the medium term remains the target, Musokotwane said.

Central government external debt rose to $13.36 billion at end-September 2022 from $13.04 billion at end-December 2021, he added.

(Reporting by Chris Mfula; Writing by Anait Miridzhanian; Editing by Alexander Winning)