Ten key statistics to show that Zambia is a basket economy

Editor,

Below are the ten selected key statistics that should convince anyone with some minimum education and knowledge that indeed we have become an economic basket case instead of being a bread basket economy:

1. 800% increase in external debt ceiling from K20 billion in 2011 to K160 billion in 2016

2. 131% increase in domestic debt ceiling from K13 billion to K30 billion

3. 433% increase in external debt from $1.2billion in 2011 to $6.4 billion in 2016

4. 134% depreciation in the value of the kwacha from K4.86 in 2011 to K11.40 in 2016

5. 247% increase in inflation from 6.6% in,2012 to 22.9% in January, 2016

6. 135% increase in fiscal deficit above budget from K8.5 billion to K20 billion in 2015

7. 147% increase in trade deficit from $383.4million in 2014 to $945.8million in 2015

8. 130% increase in average bank lending interest rates from 12.15% in 2012 to 30% in 2016

9. 157% increase of in the staple food – mealie meal from average of K37 in 2011 to about K95 in 2016

10. 200% increase in domestic electricity tariffs,this was just reduced recently after people’s outcry…imagine 5 more yrs with Chagwa

Concerned voter

Share this post