ZAMBIA recorded an economic growth of three percent in the first quarter of 2017 with the agriculture, forestry and fishing sectors contributing the highest percentage of 1.7.
The manufacturing and energy sectors were second with each contributing 0.3 percent to the country’s economic growth.
This is according to the monthly bulletin released by the Central Statistical Office (CSO) at the on-going 53rd Zambia International Trade Fair (ZITF) here.
And speaking during a media briefing yesterday, CSO director of census and statistics John Kalumbi said the energy sector recorded the highest growth rate at 25.6 percent followed by the agriculture, forestry and fishing industry sectors at 17.5 percent while the human health and social work was at 11 percent.
Mr Kalumbi said the mining sector recorded a decline in the growth rate at -5.2 percent with a -0.6 percent contribution to the overall three percent national economic growth recorded in the first quarter of this year.
“As we can see from the statistics that we have, the energy sector in the first quarter of 2017 had a percentage growth rate of 25.5 percent but in terms of its contribution to the economic growth, it’s less than what the agriculture, forestry and fishing industry contributed,” he said.
Mr Kalumbi also said the country recorded an increase in the inflation rate in the month of June at 6.8 percent compared to 6.5 percent recorded in May this year.
He attributed the increase in the annual inflation rate to the upward adjustment of electricity tariffs.
Mr Kalumbi said the hike in electricity tariffs resulted in the increase in the inflation rate of non-food items such as housing and water.
We are more concerned about what is pertaining on the ground. Not some cooked up figures from pf. You are a bunch of crooked monkeys who will die soon
Kikiki under5. Offer checks and balances not insults.
What happened to the 6.5% growth rates of Rupiah Banda era economic miracles?
Lungu is working hard!!!!!
Fake news.
Just like the 500,000 jobs lungu promised and 45 kwacha maize meal bag and 5 kwacha per litre fuel……
It’s good to observe that we are benefitting from diversification of our industries. Mining clearly is a disappointment, as private hands continue to steal the mining wealth from the people.
Agriculture, Forestry and Fishing industry sectors contributing 17.5%, is exciting manifesting good economic strategy. PF is working hard and this growth in diversification has happened in their tenure and it is evidence of good policy. Working together with our neighbouring countries in Africa should also bring good results to economic growth. Keep Roving PF.
Growth is Good but sustained growth with additional Cash flows ploughed back into the economy to spur further growth is important and such growth can only be sustained if the structure of firms to Banking and financial services is reviewed to ensure retention of most of those cash flows arising deposited in treasury accounts managed elsewhere Remember Cash flows follow the Origin and structure of Firms without that carefully aligned liquidity arisen is always down the drain and costly as it mostly made available to native countries of banking firms
That growth reported is positive around the Sub Sahara average of 3.7 % to expand the methodology to…
to be refined and reflective will not also be good to ensure accurately reflected growth but its a good outlook and attempt
To forecast when Zambia will achieve Double digit growth numbers in 20…….. will be helpful to simulate and forecast and see the potential as Country Investments and tenures are being made //
Id.iots. we are not fools. Kanyeleni uko. ubufi bwatununkila shaa!
Economic growth of just 3% is a pro poverty growth rate .Shame on you clueless PF .
What is needed is sustained Longterm growth it can be in small increaments over the quarters but and many years so long as it continues over the SNDP to 2030 it has positive implications With the current structure and firm structures to trades Check also the economics down south there and see the relation on global flows and individual firms that will impact/impacting Zambia in the firm/banking/capital and inflows as investors moderate, then you will need to appreciate this marginal increament though we need a super cycle growth that is what is needed ,given the spending in the Infrustrcutral development I have come to learn from the CHINESE Language and way…
of Business activation that to create wealthy as a nation BUILD ROADS and INFRUSTRUCTURE and its true concept for the successful growth trajectory of many countries post Though positive this statement is Our post growth is below potential looking at the massive Investments Gone into the same in search for growth areas and sectors especially when you compare similar investing countries with similar endowments
Jonathsn do you really believe you are intelligent or intelligible
but if the growth engineers are constantly warmed and cranked, Zambia has the potential to act as an engine of growth for the regions and sub-Saharan in particular It has fairly positioned it self like matete on the set for the finishing line
Napyamo See you//
What does that fountain got to do with our economy?
I am the special one my friend getting even bettera if you put mind to it you can refine your understanding also and compete with the best of analysts in the world and still be amazingly Zambian