Zambia 2018

Yearbook 2018

Zambia. In February, about half of the ministers were dismissed or relocated to new posts by President Edgar Lungu. Among other things, Minister of Trade and Industry Margaret Mwanakatwe was appointed new Finance Minister. However, this was not the first shift of the year on a heavy ministerial post. Foreign Minister Harry Kalaba resigned in early January. As a reason for the dismissal, he cited growing corruption within the government and neglect of the state finances. A few days later, he was succeeded by Joe Malanji, who represents the opposition party Movement for Multiparty Democracy (MMD).

Economy

Inflation rate 6.60%
Unemployment rate 15%
Gross domestic product (GDP) $ 68,930,000,000
GDP growth rate 3.40%
GDP per capita 4,000 USD
GDP by sector
Agriculture 7.50%
Industry 35.30%
Service 57.00%
State budget
Revenue 2.309 billion
Expenditure 2.486 billion
Proportion of the population below the national poverty line 60.5%
Distribution of household income
Top 10% 38.8
Lower 10% 1.2
Industrial production growth rate 0.20%
Investment volume 20.2% of GDP
National debt 63.10% of GDP
Foreign exchange reserves $ 2,426,000,000
Tourism 2014
Number of visitors 947,000
Revenue $ 642,000,000

Zambia Lusaka Tourist Attractions 2

According to Countryaah.com, Lusaka is the capital city of Zambia, a country located in Eastern Africa. A former minister, Chishimba Kambwili, who was excluded from President Lungu’s party Patriotic Front (PF) in 2017, was arrested by the police in March. Kambwili has become one of Lungu’s sharpest critics and has accused the president of corruption. Now the minister was accused of having come across property by criminal means.

The corruption charges against the government continued during the year and in September Sweden suspended its aid payments to Zambia because of this. Britain, Finland and Ireland also froze their aid. The day after, Zambia’s Minister for Social Development, Emerine Kabanshi, was fired. According to Karin Sverkén, head of bilateral development cooperation at the Swedish embassy in Lusaka, it had been established that the problem of aid money falling into the wrong pockets was extensive. Swedish aid would go to a form of cash social assistance to poor Zambians. In 2016-18, Sida would pay SEK 165 million to Zambia. Of these, 130 million had already been disbursed when aid was stopped.

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