ANALYZING FACTORS AFFECTING ECONOMIC GROWTH AND EVALUATING THE MACROECONOMIC MODEL IN ZAMBIA

Abstract

Economic development and growth are multifaceted processes that involve the enhancement of a nation's overall well-being, encompassing factors such as increased income and improved living standards. Sustainable development, characterized by balanced economic, social, and environmental progress, is a key goal. In this paper, factors influencing economic growth in Zambia include: real interest rate, broad money, exchange rate, inflation, gross domestic product (GDP) and 5 years bond yield rate. It is also cardinal to investment in human capital, technological advancements, infrastructure development, and effective governance. Achieving inclusive growth, where benefits are shared across different segments of society, is pivotal for long-term economic stability and prosperity.