Zambia’s economy grew by five percent in the third quarter of 2018 compared to 4.5 percent recorded in the same period in 2017.
The Central Statistical Office (CSO) bulletin for the month of December indicates the 0.5 percentage points increase compared to 4.5 percent recorded in the third quarter in 2017.
CSO Acting Director of Census and Statistics Goodson Sinyenga said the percentage growth is according to the year on year comparison of the gross domestic product (GDP).
Mr. Sinyenga said the financial and insurance activities recorded the highest growth with 36.6 percent in the period under review.
He disclosed that the information and communication industry followed at 31.6 percent with the arts, entertainment and recreation industry coming third at 21.0 percent.
“The agriculture, forestry and fishing industry has continued to record negative growths in the third quarter of 2018 at 15.4 percent,” he said.
Mr. Sinyenga pointed out that during the first three quarters of 2018, the economy grew by 3.9 percent compared to 3.6 percent recorded in the first quarter of 2017.
On the labour market, Mr. Sinyenga said 3,398,294 people are in the labour force, of which 2,971,170 are employed.
He said 60.1 percent of the labour force are male and 39.9 percent are female, adding that 60.1 percent of the labour force is in urban areas while 39.9 percent in rural areas.
Quite frankly, this is a hoax and I don’t believe any of it, for a Country where the government and President do not know what is happening in their own crucial industry, MINING! Phew!
From struggling to grow above 2.3% how do you explain this growth? Let us stop telling these fairy tales boza Ni boza bane …. CSO be factual and present the real Numbers u are the reason why IMF is struggling to believe us as a country in the numbers we are providing .,fake data!!
To move half the Zambians out of poverty, the economy needs to grow at above 10% for about 10 years. The PF are leading us to the cliff. Have you ever heard Edgar speak any economic language such as GDP, interest rates or GNI? This man is clue less
Real growth should come from manufacturing and agriculture. Not financial and insurance, who are they reaping? Entertainment, really? Where are mining, manufacturing and agriculture, tourism etc? This is full of nothing but lies.
Who is cheating who ?
And still no Auditor General appointed by the lazy bum in State House…he wants to continue stealing with impunity and cooking up books!!
Look at name, no wonder
..Nshinyenga.
These kind of people you want to send for census in 2020? You get will get 45 million Zambians and only 100 Chinese in country.
Let’s develop this thing! We know it is UNELECTABLE!
I hope this is just a report NG error by LT. Otherwise we are in trouble if this is the caliber of people at CSO. If the economy grew by that much this quarter alone, then what is the year-end growth? Are you saying this year the economy grew by 9.5% or something like that?
Like others have already pointed out, I think the correct way of saying it is that THE ECONOMY GREW BY 0.5% TO 5% COMPARED TO THE SAME QUARTER LAST YEAR….
Let us strive to excellent and accurate in what we do. This is for both CSO and LT.
Let’s roll …
When we say social media stories are fake you dont believe until they publish stories contrary to what you want to hear. Only believe them when you hear the same stories on znbc.
GDP is a flawed measure of real economic growth. It means nothing if all the money that contributes to this growth figure is owned by the president and his henchmen aline.
Are you kidding? What statistics are you guys using? Maybe 0.5% in the quarter.
Even kudos is embarrassed…..
You go and ask Sunday when you go to serve him beers next time!!
More lies only expose your attempts at cover to flimsy blame HH via privertisation for the impending job loses on the mines….
5% sounds exagerrated given that the agriculture, forestry and fishing industry have recorded negative growths and mining companies have not even conceded to the newly proposed royalties.
In any case however, I believe one could say without fear of contradiction that Zambia has all the resources it takes to record extreme growth in almost all sectors of the economy once sustainably and efficiently managed.
This is a country where the President was quoted as saying that he was going to create 500, 000 jobs for the sake of duping the citizenry. By the way were is he up to with this stup!dity? Ba Lungu nabo, bunda bwakufumyfye ameno. Bushe tabalyafye bulunshi mukanwa mulya?
Agriculture growing negatively is a huge huge huge problem given that it the biggest industry in Zambia.
Practically,we haven’t seen that growth coz every day & nyt,we’re complaining scarcing of kwacha.Ala yalibindasa coz bizwa yalitapata + nemifumbi ii yaisa,awe sure kutasha
Give an unskilled person $1m and he’ll blow it back into poverty ,give a smart gifted person $50 thousand and he’ll grow into $2m in good time.
PF management of the Zambian economy reflects the former .
Lies, lies, lies. Fake news, fake news, fake news, bapompwe imwe
On the labour market, Mr. Sinyenga said 3,398,294 people are in the labour force, of which 2,971,170 are employed.
2,971,170 people employed out of a population of 15,000,000. This is total failure. All the 2,971,170 are government employees, especially from newly created district.
Dollar has gone from K9 to K12, contractors are protesting at nrdf for their outstanding payments, mines are laying off workers, zampost workers & council workers not paid for 5 months but economy has grown by a huge 5%. Is it Monday Chanda writing fictitious articles again???
Too much news for chicken littles. To them Zambia is doing down. The sky is falling.