The annual inflation rate in November has increased to 10.8 percent from 10.7 percent from the month of October due to an increase in food prices .
Zambia Statistics Agency, interim statistician General Mulenga Musepa says the inflation rate for food and non-alcoholic beverages increased to 13.5 percent in November 2019 from 13.3 in October.
Mr Musepa explained that the price increases of foods such as breakfast mealie meal , roller meal , rice local and imported ones including buka and frozen fish.
Mr Musepa was speaking at a media briefing in Lusaka today.
He has however announced that Zambia has recorded a trade surplus of One hundred and 46.9 Million kwacha from a trade deficit of 732.3 Million kwacha in Septermber 2019.
Mr Musepa noted that the increase in exports outweighed the imports stating that mainly domestic exports increased by 18point one percent.
He stated that the increase was mainly attributed to export earnings from intermediate goods category.
And the Zambia Statistic Agency says the volume of refined copper exported in October 2019 increased by 33.6 percent from Septermber 2019.
Meanwhile, Mr Musepa has disclosed that the Agency has made tremendous strides in preparations to conduct the 2020 Census exercise is concerned.
He indicated that the agency has already conducted the mapping exercise in Lusaka province and will be rolling out the exercise to nine provinces soon.
Just Dununa & kosapo!!
Unprecedented Dununa being delivered by the Drunken visionless one.
What do you expect when you have Bandits in charge…..am appealing to all Zambians to unite and get rid of Lungu and his Bandit government before Zambia becomes another Greece….lets try different leaders please….
By the time Lungu is done with this country, inflation will be 110%.
Try sugar coating 20 hours a day of load shedding.
Hotels will pass the extra cost of running generators to their customers. So will restaurants. Tourism will suffer. We depend on tourism you incompetent man.
Try sugar coating the depreciation of the Kwacha. The ripple effects – where does one even start?
Citizens, do not accept these conditions of living. You are bring taken back to the dark ages. And I mean waaaay back.
“……He has however announced that Zambia has recorded a trade surplus of One hundred and 46.9 Million kwacha from a trade deficit of 732.3 Million kwacha in Septermber 2019…”
How was this miraculous feat archived ?
It’s not a miraculous feat, the govt coffers are dry and we are only importing critical things like power and fuel, otherwise there’s no money to import non critical staff.
It is simple why we have a trade surplus,, when a currency depreciates, exports fetch higher kwacha value per every dollar of goods exported. This is on the backdrop of the fact that psychologically,, imports become expensive, hence no one imports anyhow, unless for critical raw materials. The desire for imports drop,,
Can HeHe give us a graph. He is good at that
Cost- push inflation.
“And the Zambia Statistics Agency says the volume of refined copper exported in October increased by 33.6% from September 2019”.
Here ZSA takes note of how much copper leaves the country and the ministry of mines/ZRA has no data of where copper is sold.Who is at fault here if the mines can’t be monitored where they are selling our taxable export? Is it a legislative loophole or what?
Secondly,why must refined copper being exported with no value added be subject to VAT?We needed a vibrant hybrid tax regime;Sales tax for refined or base minerals and VAT for those adding value to the minerals.
From the export records by ZSA as of October 2019,the majority of mining houses export refined copper/minerals and very few do value addition.
Thirdly,…
Thirdly, the mining houses are vehemently opposed to Sales Tax and the Minister of mines says the mining houses have been doing a ‘donch kubeba’ on government as regards where copper and other base minerals are sold.
So their opposition to Sales Tax can be directly or indirectly linked to their failure to disclose sales data to relevant authorities for a long time now.So the call for transparency in the mining and sale of minerals is after all legitimate cos currently the whole process operates like a blackbox.
Yeah, that what they voted for, a ka stup1d vision less drunk, useless as they come worst president in the world, the dander head is just a useless drunk and lawyer wanna be who stole from a widow….fact, Jona Meno Meno AKA thieving worst president on earth
The PF government has delivered again!
10.8% print more money for your pockets
How does the government expect it’s citizens to have more money in their pockets when every money our currency is losing its not value