Zambia is among Least Developed Countries that will face a gradual phasing out of grant aid from donors because of its good economic performance.
Finance Minister Situmbeko Musokotwane has told journalists in Turkey that Zambia’s income per person has grown from US $330 to $1 200 in the last ten years.
Dr Musoktwane says the donors are reviewing their position with countries that are posting positive economic results including Zambia.
He says Denmark has already given a three year notice while Holland has also indicated its intention to do the same even though the withdrawal period is yet to be agreed upon.
Dr Musokotwane says the process of phasing out aid dependency will be gradual and will be negotiated from country to country.
[pullquote]Finance Minister Situmbeko Musokotwane has told journalists in Turkey that Zambia’s income per person has grown from US $330 to $1 200 in the last ten years.[/pullquote]
He says Zambia should be ready for the move because it can not depend on aid permanently.
Zambia is deemed as one of the country’s that can graduate from the LDC category to the middle income status because of its increased per capita income.
Members of the Least Developed countries must have a per capita income of about 7-hundred and fifty or less but Zambia has per capita income of 1-thousand 2-hundred.
Other factors that make a nation a Least Developed country include high economic vulnerability in relation to population size, diversity of goods exported and instability of exports of goods and services.
ZNBC
In trouble for doing ‘well’……
Yangu mayo kalanda kasikolo. Nomba chazipa, we are doomed!!
Donors have now realised that Zed is a lost cause, no amount of aid will lift the country out of the economic quagmire due to corruption which has permeated to the very fabric of our society. Aint Denmark in the news today on gays and funding Sata, is this coincidental?
“…because of its good economic performance….”
LOL LOL
Rupiah clique stole donors money (health, roads)
and the famous “Pack your bags and go” Rupiah tells donors
Muso, what a dishonest shady clown !!
Donors, you are right !!
you MUSNT GUARANTEE and SUPPORT a corrupt regime !!
but help us when M. Sata will lead Zed !!!
Is this reflected on the ground? anyway no comment ungacimwe.
PF dalu dalu daluuuu!. U guys all u c are problems. Study basic economics. I mean basic. Yes just basic economics. Try book world. C positive things
This man is a liar. Donors can not use GDP or per capita income to make such a decision. In the case of Zambia. What would be the value if you remove the tax from copper mining? These figures are easy to manipulate and can be interpreted in many ways. They are stopping aid because of corruption. Period.
ENSHA kaufela, we are supposed to be talking about the great barotse land and not ‘kuya bebele’. if u are zambian but not LOZI u are second class.! COPPERBELT is part of BAROTSE, NORTH WESTERN which is rich in COPPER Deposits, SOUTHERN PROVINCE IS BAROTSE which is home to the mighty BAROTSE FALLS which was offensively renamed Victoria falls! any other province is rubbish! once we win back our great vast lands you will be left with rubbish like northern eastern and lusaka provinces! VIVA BAROTSE ALL HAIL THE GREAT ELEPHANT WHICH RIDES THE GLORIOUS MAJESTIC GRAND NALIKWANDA on our river, not yours. to hell with PF. Rupiah Banda, George Kunda and Ronnie will be 3 nominated Indunas
Early this week on BBC radio Jeremy Vine Show they were discussing the floation of Glencore shares (owners of KCM) and whether it qould be morally right to buy such shares when the company was raping a poor country Zambia by not paying the right tax
Early this week on BBC radio Jeremy Vine Show they were discussing the floation of Glencore shares (owners of KCM) and whether it qould be morally right to buy such shares when the company was raping the poor country Zambia by not paying the right tax
This minister is mocking the dead and the starving.
” Finance Minister Situmbeko Musokotwane has told journalists in Turkey that Zambia’s income per person has grown from US $330 to $1 200 in the last ten years. ”
That would be GDP, not personal income, or even ‘Zambia’s income’, as the article says. GDP is largely owned by the foreign mining companies he shills and sells out his own people for.
He is switching personal income with GDP and thinks no one will be the wiser.
Because he is a crook, a petty criminal, nothing more. He steals from the shareholders of ZCCM-IH, and he steals from the Zambian taxpayers by refusing to have his foreign mining patrons pay the windfall tax, the only tax the revenue service can collect.
He sat on the Mopani report. CROOK!
TwoBlue,
” Early this week on BBC radio Jeremy Vine Show they were discussing the floation of Glencore shares (owners of KCM) and whether it qould be morally right to buy such shares when the company was raping the poor country Zambia by not paying the right tax ”
That’s excellent. You just cheered me up. :)
Good move govt. on the path to self sufficiency. Dr. Dambisa Moyo has written extensively on this. It is fantastic news that Zambia is making steps to become self sufficient. Only a technocrat like Dr. Musokotwane can help us head in the direction of self sufficiency and economic independence.
#13. What kind of Capitalist are you, where did you learn that 3 Es economics? How can a country become self sufficient, even Cuba who have succeed for year has never reached close to self-yobe.
Zimbabwe has not been receiving donor money for 10 years now, are you telling me she is self-Musokoobe? It is not only Zambia who are doing well, even China has moved from $520 per capita to $3,500 in last 10 years.
@ #14 Nostradamus
If you don’t know how a country can become self sufficient then you shouldn’t be trying to debate economics with me. All I can tell you is go and read Dr. Dambisa Moyo’s book (if at all you are into reading). It is roughly $15 to $20 dollars in Amazon.
should be “on” Amazon on #15.
And you want to compare this dull doc to magande, shit happens. Anyways Mwanawasa left us priblems and now they are showing their fimofimo, The chap RB was crying croc tiers on LPM. Magande is by far better than these *****s.
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Tis good for zambia to move from aid dependency to a somewhat respectable per capita income.However,we shouldn’t be blinded by this too much as commodity prices have risen accross the board and as a result many poor countries have had improving income.The tricky part is to see diversification & this income growth to continue when copper prices fall.
chi.ka.la chobe..how can you say zed income per cap has reached 1200backs?awe kwena bafika.la mulenya…can RB think of Zed as a nation not as a chicken run..am tired..better no comment…….people and power!!!!!!!!!!
#8 uli ito.le..which organ do you use for reasoning?
hope its not the kidney….because i’d say you have acute kidney failure!!!!!!!zed is a nation as 9provinces..we chipuba iwe
Be serious. That GDP has grown should be seen as more of a problem than an achievement, and for very simple reasons. We are a laughing stock not because we are incapeable of generating wealth, but while 80% are impoverished and under-educated, a good 2-5% literally do nothing but rob the nation of more than 80% it’s resources. This man should be saying that it is a shame that we continue to steal and implement failed policies while making ridiculous political statements. Zambia Stand UP!!!!!!!!!!!!!!!!!!! And be counted!!!!!!!!!!
Those are very good indicators that Zambia is doing fine. Where are we ranked in Africa on economic boom?
MrK You should have just kept quiet rather than expose your ignorance. Zambia’s GDP as at 31 Dec 2010 stands at $15.69 bn. Simply divide the GDP figure by 13 million (Zambia’s population). This will give you GDP per capita or income per person of slightly over $1200. The Minister is right in what he is saying and you are terribly wrong and daft. For your information Zambia is the Third largest economy in Southern Africa.
1. South Africa GDP $354bn (2)Angola $85.8bn (3) Zambia $15.69bn (4) Botswana $12.5bn (5)Namibia $11bn (6)Mozambique $10.6 bn (7) Zimbabwe $5.5bn (8) Malawi $5.04bn (9) Swaziland $3bn (10) Lesotho $2bn.
@Mundea Mundia, MRK is right. if you get K10mill and 9 of your subortnates get K500pin do the math wld u say the average is wat every one gets? no but a perseption not the actual fig. coz the avg would be K1m which isnt a representative of the true picture. so Musokotwane cut the shit coz u are ball shiting us u sick fcuk. am not even geting anything that close.
@26 Monku, please show some respect. Vitriol and insulting the Minister will not deliver you from whatever is afflicting you. If you do not understand what the Honourable Minister is saying please ask fellow bloggers. The minister is merely stating a fact, that Zambia makes $15.7bn and the fact that none of it may be attributed to you personally, I am guessing, should be food for thought on your part, notwithstanding the Government’s duty to have helped you learn basic economics and a trade to help you tap into this unpward trajectory.
No 9 get your facts right. Glencor does not own KCM
Well done Zambia for graduating from depending on donor money. We are now a nation which does not need donor money and can feed its self. Well done MMD and the government.
I never thought Zambia had so many DULL people. This blog just proves it
:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((:((. it doesnt make sense. i mean we owe lend money to people who can pay back. how come now that we cant access a grant.
Public media is being abused and now LT is also a MMD tool
Good news according to our research students. They read Dead Aid book too.
Mundia Mundea,
” Zambia’s GDP as at 31 Dec 2010 stands at $15.69 bn. Simply divide the GDP figure by 13 million (Zambia’s population). This will give you GDP per capita or income per person of slightly over $1200. ”
You are simply saying that I am right.
You admit the $1300 per person is *GDP* per person. Exactly the point I have been making. ‘Zambia’s income’ or GDP are not *personal income*.
The problem is that billions of GDP are owned by foreign mining companies, and Zambians do not see anything of it, whether directly as *personal* income, or indirectly through taxes.
26 Monku,
Thanks for sticking up for me. :)
27 Apamwamba ,
” @26 Monku, please show some respect. ”
It is the finance minister who must show some respect to the Zambian people and to our intellect, first.
” Dr Musokotwane says the process of phasing out aid dependency will be gradual and will be negotiated from country to country. Finance Minister Situmbeko Musokotwane has told journalists in Turkey that Zambia’s income per person has grown from US $330 to $1 200 in the last ten years. He says Zambia should be ready for the move because it can not depend on aid permanently. ”
So Zambia is going to go without (by now) around $1 billion from it’s budget that is ‘donor aid’, while not taxing the mines. How is that possible, and how does he still justify not taxing the mines?
Minister Musokotwane also stated previously that there will not be a serious dent in poverty for at least 30 years, following the MMD’s policies.
In 2011 Zambia has a population of 13 million and a growth rate of 2.8% per year.
In 30 years, the Zambian population will be 29 million. So there won’t be any reduction in poverty at 13 million, but there will be at 29 million?
MrK… I stand to be corrected but there is such as personal income which when aggregated is call Gross National Income (GNI) and it is this animal I believe the Minister is talking about… (GNI per capita)…Although the population is threat to Zambia’s growth, I believe in some economic theories which state that if we grow our economy 3 times faster than our population, we can achieve real growth.
In addition, let’s be patriotic my fellow Zambians and pitch in. Let’s be willing to roll up our sleeves and put in a lot of hard work. This talk about doom and gloom will not take us anywhere. ABASH donors!!!